Iran’s Trade Promotion Organization (TPO) announced today the country’s non-oil exports will exceed $40 billion by the end of the current Iranian year (ending March 20). TPO’s figures include $5 billion for gas condensates exports that the organization counts as non-oil revenues. The export of technical and engineering services amounted to more than $3 billion.
This year’s non-oil exports of $40 billion represent a 40% increase over last year. The country’s oil exports during the coming Iranian calendar year are estimated at $80 billion.
This is pretty much in line with most rational economic analysis of Iran's rapid growth in non-oil sector, particularly heavy manufacturing, automotive,chemicals, cement, steel, mining, infrastructure, construction and scientific fields. Iran's expansion of non-oil based exports and industrial output into the Central Asian, Asia minor and even Asian nations is quite rapid.
ReplyDeleteIran's domestic market of over 80 million consumers itself is quite large and set to grow, and if Afghanistan, Iraq, Syria and even India are added, the access to markets is over a BILLION people. China is the largest and most diverse trading partner and ally. These already strong ties will only grow and benefit both.
Trade with our Turkish brothers, India and even Belarus, Brazil, Venezuala, Bolivia and many developing nations is also rapidly growing with many industrial and construction projects. However, there are many bottlenecks and inefficiencies in the economy which need attention. Fiscal management and industrial/labour relations improvements being a concern. On the whole Iranian economy is doing quite well and Iran's stability in view of current unravelling in the Arab world will only benefit Iran more as investment increases. Even the usual Zionist mouthpiece "Economist Intelligence Unit" in its 2011 analysis has a rather upbeat take on the Iranian economy and growing industrial/manufacturing clout. With general instability in most oil producing OPEC nations from Nigeria to Saudi Arabia now a given fact, Iran's importance will only grow. Oil will now destined to remain in the $100-200 range or more in the near future. All this benefits Iran and its diversified economy, agricultural self sufficiency and very low national debt.