Friday, April 21, 2006

Did you know?

Did you know that Iran earned, on average, $482.6 for every ton of her non-oil exports but paid out $1123.6 for every ton of her imports, a little more than 2.3 times! To put it differently, Iran exchanges 2.3 tons of "goods" for 1 ton of imported items! There is no conspiracy or collusion. This is just a sign of economic underdevelopment, and also a reflection of economic ignorance. Instead of organising value- adding activities and, then exporting goods with relatively high value, Iran exports goods that are not fully processed, and, therefore, has little value. In a sense it is not a big deal! So long as we trade like this, we would continue with this " exchange rate"! Let us not blame anyone.
Has anybody got a mirror that I could borrow!

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