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Iran sees increase in textile exports; imposes restrictions on imports

US $ 1.1 billion worth textile and garment exports!

That’s the number clocked by Iran for the year ended March. While confirming this on Sunday (18 August), the Ministry of Commerce said that the Government is also imposing restrictions on imports.

Elaborating on the same, Afsaneh Mehrabi from Mining and Trade’s Textile and Clothing Industries Department said that the rise in exports came amidst tight Government restrictions on imports of products with enough manufacturing capacity within the country.

She also told media that Iran was aiming at revamping the garment and textile industry, which has about 8,000 production units across the country providing jobs to 260,000 people.

Over the last few years, industry has not been going though good phase mainly owing to smuggling of garment products into the country as well as some sanctions that have badly hit the local textile firms.

Fresh US sanctions imposed in late 2018 have gradually helped local producers to fill the gap created by sliding imports.

It is worth noting that Iran’s garment and textile exports last year (ending March 2018) rose by 36 and 25 per cent in volume and value terms, respectively. For the same period, the imports were US $ 1.5 billion.

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