How much will Corona reduce Iran's exports?

How much will Corona reduce Iran's exports?
  • 2020-05-23
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The head of the Iran-China Joint Chamber of Commerce says that, as the performance of the world economy has shown in recent months, under the influence of the Coronavirus outbreak, the decline in world trade and, consequently, Iran's trade will be certain.

According to the International Stone Exhibition of Iran, Majid Reza Hariri stated: Considering that none of the countries in the world have yet achieved treatment or vaccination against coronavirus, the main strategy facing governments is to reduce travel and restrict traffic. Is. On the one hand, this leads to a direct reduction in trade, and on the other hand, due to the decrease in travel and activities, it also reduces the amount of demand in trade.

"Analyzing the economic situation of countries in 2020 shows the negative growth of many of the world's major economies," he said. "Although it is not yet possible to provide an accurate picture of the coming months, many international institutions are now saying that It is a difficult time for international trade. Although these analyzes fall into a range of optimistic and pessimistic assessments, in practice there is no doubt about the definite reduction of interactions.

The head of the Iran-China Chamber of Commerce also spoke about the impact of the Corona outbreak on Iran's economy: Although we have not seen significant oil sales in recent years due to sanctions, declining oil prices make the expected revenue in this area virtually unaffordable.

Hariri continued: "Another point to note is that although we do not sell much oil and have tried to rely on non-oil exports, we still have close to forty percent of our total exports, products and derivatives." They are oil. From petrochemical products to other petroleum products. Falling oil prices will also lead to lower prices for these products.

He noted: "Putting these puzzle pieces together, it seems that Iran's exports this year will be able to decrease by about 30 percent, and the government must prepare itself to face the consequences." However, what happened in Iran can be seen in all countries of the world, and we are not alone in this.

According to the report, according to the Tehran Chamber of Commerce, Iran's exports fell by more than 30 percent in April this year compared to the same period last year.

Mohammad Lahouti, head of the Exporters Confederation of Iran, said that with a relative reduction in some restrictions, Iran's exports increased in May this year, but a reduction in trade under the influence of Corona would be certain.