An Iranian steel mill in production. Undated
Iran’s customs department says exports of steel and metals have increased this year compared with last year, reaching $4.5 billion, amid US sanctions on Iran.
The spokesman of the Customs Organization, Ruhollah Latifi, told local media that in the first 8 months of the current Iranian calendar year exports have already topped all last year’s sales by $800 million.
Latifi announced that that exports of steel, iron, iron ore and construction steel constitute 14 percent of all exports that total $31 billion, in the eight-month period. Exports of metal products and iron ore last year was $3.7 billion, he said.
The World Steel Association last month said that Iran’s production fell by 15 percent in October, following smaller declines earlier this year. The declines were due to shortages of electricity.
Iran has been suffering from an power shortages in recent years as its natural gas production, feeding power plants, fails to keep up with domestic demand. Lack of investments and technology resulting from years of various sanctions have gradually reduced output in operating gas fields.
Export of non-oil products has become more important for Iran as US sanctions have reduced oil exports its main revenue-generating commodity.