Iran’s export of technical services grows by 376%

Iran's foreign trade has seen significant growth since President Ebrahim Raisi took office in August last year.

Foreign trade growth, exports in particular, has significant effect on the country’s economic growth, the inflow of reserve currencies, and mitigation of the impacts of sanctions.

Figures from Trade Promotion Organization (TPO) show that Iran’s exports and imports respectively amounted to 34.8 and 38.9 billion dollars in the Iranian calendar year 1399 (March 2020-March 2021). The numbers increased to 48.6 and 53 billion dollars in the next year (March 2021-March 2022).

This indicates that Iran’s exports increased by 40 percent and its imports by 36 percent in the March 2021-March 2022 period compared to the year before.

The trend continued in the first quarter of this Iranian calendar year (March 21-June 21, 2022) when Iran’s exports increased by 21 percent to 13.1 billion dollars and its imports grew by 18 percent to 12.5 billion dollars, compared to 10.8 billion and 10.6 billion dollars in the same period last year.

Among various sections, technical and engineering services exports experienced a significant growth, reaching 2.3 billion dollars in the Iranian calendar year 1400, compared to 493 million dollars the year before.

This is indicative of a 367-percent surge this area of exports which saw an even greater increase this spring, stretching from 17 million dollars the last spring to 105 million dollars.