04:25 GMT +313 December 2019
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    An oil tanker is seen off the port of Bandar Abbas, southern Iran (File)

    Iran Reaches Positive Net-of-Oil Trade Balance for First Time in 37 Years

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    Iranian exports have exceeded imports for the first time in 37 years.

    MOSCOW (Sputnik) — Iranian exports excluding oil trade have exceeded imports for the first time in 37 years, Iranian President Hassan Rouhani said on Monday.

    "The government has tried to step by step reduce dependence on oil revenues, and for the first time in the history of post-revolutionary Iran [after 1979], in 2015-2016, our export revenues exceeded import spending without taking into account oil trade," Rouhani was quoted as saying by the IRINN broadcaster.

    Rouhani added that Iran's oil exports continue to grow, reaching two million barrels per day, and Iran will continue to seek to increase this figure.

    Iran has been boosting its oil sales after a deal with the P5+1 group of world powers — including Russia, the United States, China, France and the United Kingdom plus Germany — in July to monitor and limit Tehran's nuclear program in exchange for the easing of international sanctions.

    In February, the head of the National Iranian Oil Company said that the country aims to raise its daily oil exports to 4.7 million barrels.

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    oil export, Hassan Rouhani, Iran
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