Iran has witnessed a remarkable 18% increase in domestic appliance exports in the business year from March 2023 to March 2024, generating over $400 million in revenue.
According to a report by the Islamic Republic News Agency (IRNA), this growth is expected to continue into the next fiscal year, with even better results anticipated due to strengthened ties with BRICS countries—Russia, India, the UAE, and China.
Omid Fazelinia, Secretary-General of the Iranian Home Appliances Producers’ Association, attributed this success to the strategic initiatives implemented under the late-President Ebrahim Raisi. These initiatives focused on boosting domestic production and expanding foreign sales channels.
Fazelinia reported to IRNA that the production of home appliances reached 19.5 million units in the 2023-24 business year. This number is projected to increase to 22.5 million units in the current fiscal year, reflecting a 15% rise in export sales.
The bolstered production and export activities underscore the positive impact of Iran’s collaborations within the BRICS framework, enhancing the country’s economic footprint in the global market.
