1138 GMT October 28, 2021
The report by IRNA said that metals and mining product exports had reached $5.08 billion in value terms in the first five months of the current Iranian year, an increase of 126% against March-August 2020.
Exports from the sector rose by 11% in volume, to reach nearly 22 million metric tons over the same period last year, said the report.
Steel products accounted for nearly $3.09 billion, or 60%, of all exports from the sector, it said, adding that steel shipments had risen by 176% in value, compared to March-August last year.
Copper came second, with over $621 million worth of exports, and an 82% surge in value of shipments reported year-on-year.
Iran has increasingly relied on metals exports in recent years to compensate for losses suffered in crude oil sales because of US sanctions.
The government has introduced massive expansion schemes in the metals sector to encourage exports and to create more jobs for the country’s youths.
Iran’s metals exports have also diversified in recent years to include increased shipments of copper, aluminum and zinc.
The IRNA report said that aluminum exports in March-August had reached over $244 million, up 287% against the same period last year, while zinc product shipments had also risen to reach $183.3 million over the same period.
However, imports of metals and mining products to Iran had declined by 7%, to 1.42 million tons, worth $1.29 billion over the same five-month period, said the report, adding that steel products had accounted for 36% of all shipments imported into the country in March-August.