TEHRAN: Iran posted its second trade surplus in 37 years for the past Iranian calendar year, which began in March 2016 and ended last week, according to customs data cited in a report by the Islamic Republic News Agency (IRNA). Non-oil exports exceeded imports by $246 million, the report said withut giving any reasons for the trade surplus. But the lifting of sanctions last year helped Iran move toward re-establishing old business ties and taking preliminary steps towards building new ones. Imports have also been curbed by the weak rial compared to the period before sanctions and because Iran was forced to produce many things itself during the years of sanctions.
The lifting of sanctions was part of a landmark deal struck between the Islamic Republic and western countries in 2015 which forced Iran to restrict its nuclear program. The positive trade numbers could provide a boost for moderate president Hassan Rouhani, who has pointed to the agreement as his administration’s signature achievement, during presidential elections in May. Non-oil exports during the past Iranian calendar year reached $43.9 billion, a 3.5 percent increase over the same period during the previous year, the IRNA report said. Imports for the past Iranian calendar year hit $43.6 billion, a 5.2 percent increase over the same period during the previous year. China was Iran’s top trading partner for both imports and exports in the past Iranian calendar year, figures cited in the IRNA report showed.
