According to the Financial Times, US sanctions and currency restrictions inside Iran have sharply reduced Iranian carpet exports. Forecasts suggest that by March 2026 exports could fall to less than $40 million. This would mark a huge drop compared with more than $2 billion 30 years ago.
Washington tightened sanctions in 2018 after withdrawing from Iranās nuclear deal. In particular, the US imposed trade and financial embargoes, restrictions on oil exports, and measures that hinder banksā access to international settlements. Banking restrictions also hit exporters, as Tehran is forcing them to sell part of their foreign-currency earnings.
The decline in exports has also negatively affected production. According to industry organizations, the number of carpet weavers has fallen from 6 million in the 1990s to fewer than 700,000 today. Carpet output has dropped from 6 million square meters a year to less than 2 million square meters.
In addition, Iran has canceled its annual carpet exhibition. The Financial Times says the main reason was problems with electricity supply. To improve the situation, Tehran plans to ease requirements for exporters and set up special groups to support the carpet industry.
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