Iran's bright outlook: Balance of Foreign Trade turns positive again
Independent Iran-related News Search Engine, Kodoom.com: Iran's Customs Administration has reported a net positive $2.4 Billion in Iran's Balance of Foreign Trade in non-oil exports and imports for the first 5 months this year. This reflects a 10.2% increase in exports and a 2.9% decrease in imports compared to the same period last year. This is the first time since the 1979 Islamic Revolution that Iran's Balance of Foreign Trade turns positive. Years of sanctions imposed on Iran's heavily oil-exports-dependent economy may be coming to an end following the nuclear peace deal championed by Presidents Rohani and Obama.
There has also been an increase in Iran's industrial imports from Western countries like Germany. In the first half of this year, Germany's exports to Iran, mainly in machinery and heavy equipment, has increased by 15% compared to the same period last year.