Iran’s services exports have seen a nearly 20% increase in value, according to TPO’s deputy head, Mohammad Sadegh Ghannadzadeh. This surge signifies the country’s growing reliance on services exports as a vital source of hard currency revenue. Ghannadzadeh emphasized that a boost in services exports will also positively impact the export of goods in the future.
With technical and engineering services from Iran totaling almost $2.5 billion in the previous calendar year, the country aims to address challenges faced by Iranian suppliers in accessing banking services due to sanctions. The Iranian government is working on solutions to triple the value of engineering and technical services exports to $6 billion within the next two years.
As part of a larger strategy to mitigate the impact of US sanctions on its oil exports, Iran has been focusing on increasing non-oil exports. These efforts reflect a shift towards diversifying revenue sources and expanding the country’s economic resilience.
AMK/PressTV
