Tehran, Iran, October 25
By Mehdi Sepahvand –- Trend:
China’s Customs has reported that the country’s exports to Iran during the first three quarters of 2016 stood at $11.5 billion.
The source added that trade turnover between the two countries from January to September stood at $22.12 billion, a decline of 17 percent from the same period in 2015, when it stood at $26.6 billion, Tasnim news agency reported October 25.
China had exported $13.7 billion worth of goods to Iran in the first three quarters of 2015.
Plunging oil prices have caused Iran’s export to China to shrink in value, for most of the export is oil. China is Iran’s biggest crude oil customer.
The trade balance during the said period was $920 thousand in favor of China.
The two countries trade turnover had jumped by 31 percent in 2014 to hit the record $51 billion, but declined by 34 percent the next year to stand at 34 percent.