Iran-U.S. trade doubles in February - report

Business Materials 6 April 2013 14:38 (UTC +04:00)

Azerbaijan, Baku, Apr.6/ Trend G.Mehdi/

Trade between Iran and U.S. amounted to $27.2 million in February, more than double of the figure in January, ISNA quoted U.S. Census Bureau data.

U.S. exported $26.1 million worth of goods to Iran and imported $1.1 million worth of goods from Iran in February.

According to a Reuters report, U.S. exports to Iran rose by nearly a third in 2012, chiefly because of grain sales, despite the tightening of U.S. financial sanctions.

The increase masks a drop in the export of some humanitarian goods such as medicines, a decline U.S. exporters blame largely on the difficulty of getting paid by Iranian importers because of new U.S. financial sanctions.

But it also shows that goods such as milk products and medical equipment - whose sale to Iran is allowed with a Treasury Department export license - continue to flow despite the sanctions and the payments difficulties.

Medicinal and pharmaceutical products, including those sold in bulk and those for animals, fell to $14.9 million from $26.7 million.

Pulp and waste paper, a category that includes the raw material for diapers, sank to $17.4 million from $40.9 million.