Iran says trade fell 35% instead of expected 75% under US blockade
Iran expected a 75 percent drop in trade following the US naval blockade, but the actual decline was 35 percent over six months, with alternative routes offsetting 40 percentage points of potential losses, a senior trade official said.
Mohammad Ali Dehghan Dehnavi, head of Iran’s Trade Promotion Organization, said about 75 percent of the country’s foreign trade by weight had previously moved through the Persian Gulf and the Sea of Oman. He attributed the smaller-than-expected decline to increased use of land crossings, rail corridors and continued shipments through alternative maritime channels.
Iran exported 155 million metric tons of goods and imported 42 million tons in the previous Iranian year, according to official figures. Dehghan Dehnavi said further changes to trade procedures could help exports increase in the second half of the current year
