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EghtesadOnline: Iran’s Ministry of Industries, Mining and Trade has said it expects local carmakers to boost exports tenfold during the current fiscal that started in March.

The second edition of the ministry’s annual roadmap states that the auto industry’s total exports are expected to reach $2.2 billion by next March, ISNA reported. According to data released by Iran’s Trade Promotion Organization, affiliated to the ministry, in the last calendar  year the automotive industry hardly made $217.4 million from exports. Automakers exported vehicles worth $36.6 million to Iraq, Algeria, Lebanon, Kazakhstan Turkmenistan, and Syria, the main export destinations. During the 12-month period, the companies exported heavy duty vehicles —including trailer trucks and tractors — and earned $35.8 million. In the last fiscal, domestic automakers also exported auto parts worth $145 million. Almost 79% of the auto parts went to Iraq, Afghanistan, the UAE, Turkmenistan and Turkey, according to Financial Tribune.

Iran Auto Iran carmakers Iran auto industry