Iran non-oil exports to hit $40bn

An Iranian official says non-oil exports will reach more than $40 billion by the end of the year.

Iran has announced its non-oil exports will exceed $40 billion by the end of the current Iranian year (ending March 20).

Deputy of Iran's Trade Promotion Organization Kiumars Fathollah Kermanshahi said on Friday that exports of technical and engineering services would amount to $3.3 billion by the end of the Iranian year.

He said the volume of the non-oil exports stands at $29 billion and $24 billion respectively with and without inclusion of the revenue from gas condensates during the past 11 months.

Kermanshahi pointed out that the new figure comes despite several rounds of Western sanctions imposed against Tehran over its civilian nuclear program.

"The 149 percent growth in non-oil exports is one of the significant achievements that have been celebrated under the pressure of threats and different crises," he said.

Last year, Iran exported $28.4 billion worth of non-oil products together with technical and engineering services, as well as $66.21 billion worth of oil and gas products.

According to the International Monetary Fund (IMF), Iran is the third largest country in the Middle East and Central Asia in terms of exports and imports.

AGB/AZ/MB