Central Bank Data: Iran's Trade Surplus Reaches $26.3 Billion in FY1404 as Short-Term Share of External Debt Jumps to 64.6 Percent

According to the latest economic indicators published by Iran's central bank, reported by EcoIran on 18 September 2026 (27 Shahrivar 1405), the value of Iran's merchandise exports in fiscal year 1404 reached 104.21 billion dollars, down about 9.7 percent from 115.421 billion dollars in fiscal 1403. Merchandise imports fell 12.1 percent, from 88.567 billion dollars to 77.871 billion dollars. Despite the decline on both sides of foreign trade, the merchandise trade surplus for 1404 reached 26.339 billion dollars, only 1.9 percent below the 26.854 billion dollars recorded in 1403. The main driver of the export decline was a 12.8 percent drop in oil exports, from 65.841 billion dollars to 57.442 billion dollars.

On external debt, Iran's total foreign debt stood at 4.577 billion dollars at the end of fiscal 1404, down 5.9 percent from 4.862 billion dollars in 1403. However, the maturity structure has shifted markedly: the short-term share of external debt rose from 28.5 percent in 1401 to 64.6 percent by the end of 1404, and of the total external debt outstanding at the end of 1404, 3.4 billion dollars, or 74.3 percent, falls due in fiscal 1405. At the same time, imports of gas and petroleum products reached 2.901 billion dollars in 1404, the highest in four years, with 68 percent of that value recorded in the final quarter of the year alone.