| Iran's imports decline sharply as country strives for self-reliance
25 Jul 23 3 min read
Insights
- Iran has experienced a sharp decline in textile imports, dropping to $1,042 million in 2022 from $2,519 million in 2011.
- In response to sanctions, Iran is implementing import substitution policies, focusing on domestic production and diversifying trade partners.
- This self-reliance drive comes as sanctions severely impact Iran's oil export capacity.
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