News ID: 324339
Published: 0353 GMT September 28, 2022

Iran reports 5.1% growth in manufacturing in March-August

Iran reports 5.1% growth in manufacturing in March-August

Figures by the Iranian Ministry of Industry, Mine and Trade (MIMT) showed the country’s manufacturing sector expanded by 5.1% in the five calendar months to August 22 compared with the same period last year.

Mehdi Niazi, the MIMT’s deputy for coordination of business environment, told IRIB News on Tuesday that the manufacturing index in the local stock market had also risen by 6.7% over the March-August period against the same period in 2021.

An analysis of MIMT data pointed to increases in output for 13 major manufactured products over the five months to late August.

The analysis by the semi-official Tasnim News Agency indicated that Iran’s car output had increased by 5.7% in March-August compared with the same period last year to reach 369,600 units.

It said paper production had increased 6.8% to 486,900 metric tons (mt) over the period, while home appliances production surged by 20.7% to stand at 598,700 units.

The report also said there had been declines in output of some Iranian-manufactured products over the five months to late August compared with the same period last year, including a 25.5% drop in cooking oil production at 645,900 mt and a fall of 5.4% in the output of industrial oil at 298,900 mt.

Iran has reported continued growth in its manufacturing sector since 2018 when the United States imposed sanctions on the country.

The growth has led to increased exports of manufacturing products from Iran while enabling the Iranian government to create hundreds of thousands of new jobs across the country.

 

   
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