A report shows that Iran earned over $1.3 billion from its extensive gold import program last year.
Iran has stood to benefit from its gold import spree last year as bullion prices have risen to historic records, a report shows.
The Tuesday report by Fars news agency said that Iran had made a profit of $1.3 billion from imports of some 81 metric tons (mt) of gold in the 10 months to late January.
The report said Iranian customs figures show that the country had spent $6.5 billion on gold imports over the period, adding that the shipment is now worth $7.8 billion considering the current prices of gold in the international markets.
It also cited the latest figures from the Chinese customs office which indicated that Iran had imported some 2.25 mt of gold from the country, further boosting its inventories at a time of rising gold prices.
Analysts believe that gold purchases by central banks around the world, influenced by risks stemming from US trade and financial policies, have been one of the main reasons behind rising gold prices in recent months.
Iranian central bank governor Mohammad Reza Farzin said last month that Iran was among the top five gold-buying countries of the world as he insisted that the lender had converted some 20% of its reserves to gold.
Iran has cut its tariffs on gold imports to zero to boost its gold reserves and to facilitate the return of funds held in other countries because of US sanctions.
Customs figures released earlier this week showed that gold had accounted for $8 billion or more than 11% of total imports into Iran in the calendar year to late March.
