Iran home appliances exports to increase to $200m by yearend

TEHRAN, Oct. 04 (MNA) – An Iranian official with the Industry Ministry has predicted that this year's exports of locally manufactured home appliances could increase to $200 million.

Director-general of the electrical, metal, and home appliances office of Iran’s Ministry of Industry, Mine and Trade Keyvan Gardan made the remarks in an interview with the Iranian national TV IRIB.

“Home appliance manufacturers have achieved self-confidence by relying on domestic capabilities. At the beginning of 2018, about 60% of the country's home appliances market was controlled by foreign products, but last year we became self-sufficient in this sector and produced 15.5 million home appliances, which has now doubled compared to the beginning of 2018,” Keyvan Gordan said.

"If we had not been able to produce these goods domestically, we would have had to spend about 4 billion dollars to import them," said the Industry Ministry official.

"Two years ago, the country spent 2 billion dollars on importing home appliance parts, but now, with the increase of domestic Product lifespan to an average of 70 percent, the import of home appliance parts has decreased to 1.4 billion dollars, and the share of imported parts has decreased to less than 30 percent,” he added.

“Iran exported $10 million of home appliances in 2018 and $140 million last year, and we predict the exports of locally manufactured home appliances will increase to $ 200 million this year.  The country that used to import home appliances has now become an exporter of these goods," according to Gardan.

He also noted that the neighboring countries import home appliances worth $ 37 billion each year, while Iran has planned to enter this market.

He also pointed out that as many as 200 home appliance parts manufacturing companies are operating in the country.

ZM/KI/5319559

News Code 179353

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