We are getting out of stagflation

The growth in non-oil export is one of the requirements for Iranian economy to curb the inflation. Greater share of non-oil export leads to higher employment rate and help the demands surpass supply which in turn curb inflation and pushes GDP up. Fortunately, the non-oil export trade volume increased by 2% and amounted to $40.05 billion last year. The development signals a positive transition from stagflation to economic boom. There are enormous opportunities and potentials for increasing the non-oil export, such as mineral products, the chemical industry and its products, metal and plastic products, vegetable products and food industries contributing more than $1 billion to the non-oil export figures. The total Iranian non-oil export is more than 40 billion dollars, whilst the total import is 42 billion. Therefore, there is a need for the government to create a balance between the two in order to achieve financial balance. Tourism, technical and engineering services are potential areas where the government can invest in order to diversify and increase non-oil export. Recent positive developments in the nuclear program, attempts to build closer ties with the Islamic countries along with financial and monetary policies aimed at curbing the inflation are among the measures that will further foster the ground for such an increase and create a more promising prospect for the economy of Iran. It is evident that sound interaction with the rest of the world contributes greatly to our export volume. Removal of sanctions accompanied by proper financial and monetary policies also enables us to expect our non-oil export to hit $50 billion next year. It is hoped that by adopting the principles of resistive economy and increasing export volume, the Iranian economy can reach self-sufficiency and a suitable position at international level.