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Iranian Imports Up 10% -Report

June 6, TEHRAN - (Dow Jones)- Iran 's imports increased 10% to $2.2 billion in the first two months of the current Iranian year, which began March 20, compared with the corresponding period last year, according to a report issued by the Iranian Customs Administration Tuesday.

Imports of industrial machinery and electrical equipment stood at $439 million and $132 million respectively. Imports of steel products and chemicals were $175 million and $106 million respectively and wheat imports totalled $130 million, the report said.

Meanwhile, exports of non-oil goods dropped 33% in value compared to the same period last year, registering a total of $353 million.

Iran 's High Council of Exports has set a minimum annual revenue target of $4.4 billion for non-oil exports.

The Planning and Budget Organization, on the other hand, has said Iran needs to generate at least $40 billion in non-oil exports over the next five years to sustain a healthy economy.

Non-oil exports have averaged $3 billion a year for the past two decades, the report said.


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