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Iran's 8-month trade hits $60.5b, up 24% year on year

Source: Mehr News Agency, Tehran

The Iranian commerce ministry spokesman stated that the country's total value of imports and exports amounted to $60.5 billion in the first eight months of the current calendar year ending November 21, proving that economic sanctions imposed on the Islamic Republic have been futile.

Graph from US GAO Report, December 2007

The Islamic Republic of Iran Broadcasting quoted Alireza Shojai as saying that the figure showed a 24 percent growth in this period compared to last year.

He claimed that despite the international sanctions slapped on Tehran the $12 billion rise in the trade value verifies that foreign firms are interested in expanding business and investing in Iran.

The commerce minister's consultant elaborated on the present situation in the world and the impact of the financial crisis on international trade as the main issue of countries searching for markets for their exports.

"Finding a market for manufacturers in today's competent atmosphere is a big problem and nobody wishes to lose a huge market like Iran. Therefore, issuing resolutions against Iran has no effect on its trade ties with other countries and the states that press restrictions on Iran would be losing more profit than the Islamic Republic," he said.

The Iranian official concluded by saying that Iran will continue expanding its exports of 3,500 items to over 160 countries.

... Payvand News - 12/04/10 ... --

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