Iran hits record balance of trade surplus
Iran hit a record balance of trade surplus of nearly $12 billion in the last Iranian year, which ended in March, newspapers reported on Tuesday, April 17.
Central bank chief Mohsen Nourbakhsh was quoted saying Iran exported $24.1 billion of goods while importing goods worth $12.4 billion, giving the Islamic republic a surplus of $11.7 billion.
The record balance was driven largely by surging oil prices. A weak market in the previous two years left Iran with an average decline of around five billion dollars annually in oil revenues.
Iran is the second-largest producer in OPEC after Saudi Arabia, with a daily output approaching four million barrels per day. — (AFP, Tehran)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)