BAKU, Azerbaijan, October 21. Iran imported 7,453 kg of gold bars worth approximately $476 million in the first six months of the current Iranian year (March 21 through September 22, 2023), Trend reports.
The data from the Islamic Republic of Iran Customs Administration (IRICA) shows that gold bars constituted 1.6 percent of Iran’s total imports during this period, ranking eighth in the list.
About 4,371 kg of gold bars were imported through the customs of Imam Khomeini Airport in Iran, which made up 58.6 percent of the total gold bars imported into the country.
Among the customs of the country, after Imam Khomeini airport customs, the largest amount of gold bars was imported through Bashmaq (2,121 kg) and Tabriz customs (782 kg).
Meanwhile, the remaining 179 kg of gold bars were imported through Mashhad and Isfahan customs in Iran.
Overall, Iran imported 17.6 million tons of goods worth $30.4 billion in the first half of the current Iranian year (March 21 through September 22, 2023). This is an increase of 11.6 percent in value and 6.89 percent in volume compared to the same period last year.
Iran’s main import partners in this period were the UAE, China, Türkiye, Germany, and India. The main imported items were corn feed, mobile phones, and soybean seeds.
The sanctions imposed by the US against Iran have made it extremely difficult to bring foreign currency (US dollars) to the country. Iran prefers to use alternative ways to avoid sanctions. In this regard, the Iranian government has created conditions for the exporters of non-oil products to import gold bars into the country instead of foreign currency.
On May 8, 2018, the US announced its withdrawal from the Joint Comprehensive Plan of Action (JCPOA) between Iran and the 5+1 group (Russia, China, the UK, France, the US, and Germany) and imposed new sanctions against Iran as of November 2018.
Over the past period, the sanctions affected Iranian oil exports and more than 700 banks, companies, and individuals. The sanctions have resulted in the freezing of Iranian assets abroad.
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