TEHRAN - The head of the Islamic Republic of Iran Customs Administration (IRICA) said 29,418 passenger cars were imported into the country in the first eight months of the current Iranian calendar year (March 20-November 21).

According to Foroud Asgari, the total value of the imported cars was $617.5 million, IRNA reported.

"Car imports to the country [in the mentioned eight months] increased by 736 percent in terms of number and 784 percent in terms of value compared to the same period last year," Asgari said.

Iranian Industry, Mining, and Trade lifted the ban on car imports in late May 2022.

The decision was made to reduce the imbalance between supply and demand and to improve the country’s economic conditions with regard to foreign currency revenues.

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