TEHRAN - Iran's customs revenues during the first three months of the calendar year (March 20 – June 20) have grown by 33 percent compared to that of last year’s corresponding period, according to the head of the country’s customs administration.

Mohammad Rezvanifar said on Monday that Iran’s customs revenues reached some 490 trillion rials ($823 million) in the period under review.

He noted that a total of 490 trillion rials ($823 million) of customs revenues has been collected and deposited into the government treasury, including all the duties on imports and value-added taxes.

The IRICA head said Iran’s customs income reached about $3.23 billion in the previous Iranian calendar year (ended on March 20), making it the third largest source of revenues for the government after oil export and tax.

Iran has increasingly relied on trade income, including customs and transit revenues, as part of a policy introduced in recent years to diversify the economy away from oil.

The deputy governor of the Central Bank of Iran (CBI) for economic affairs Mohammad Shirijian has put the total trade turnover of the country in the previous Iranian calendar year at $180 billion.

Iran’s trade turnover reached $180 billion in the previous calendar year (March 21, 2023-March 19, 2024) based on the balance of payments of the bank, Shirijian said.

According to the balance of payments of the Central Bank of Iran, the Islamic Republic exported $100 billion worth of goods in the period, marking a three percent rise compared to the previous year, he added.

The official said that $80 billion worth of products were imported into the country in the said time, showing a 6.2 percent hike compared to the year before.

Iran’s trade with member states of the Organization of Islamic Cooperation (OIC) reached $61 billion last year.

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