Iran-US trade decreases
Baku, Azerbaijan, Jan. 6
By Fatih Karimov – Trend:
Trade turnover between Iran and the US stood at $176.4 million during the first 11 months of 2017, 26 percent less compared to the same period of the preceding year.
The US exports to Iran reached $121.6 million in the 11-month period, which is 23.4 percent less year-on-year, according to the statistics of the United States Census Bureau.
Iran's exports to the US decreased by about 32.3 percent to $54.8 million in the same time span, according to the report.
In November, Iran and the US had a trade turnover worth $16.6 million, $11.8 million of which accounted for the US exports to Iran. In November 2016, the figure was $9.5 million, $3.2 million of which accounted for Iran’s exports to the US. Iran’s exports to the US registered a rise by 50 percent in November year-on-year, while the country’s imports from the United States increased by 87.3 percent.
During the last year, the US exported $172 million worth of goods to Iran, mostly agriculture products and medical equipment, and imported $87.7 million worth of goods from Iran, mostly pistachios and carpets.
Removal of international sanctions against Tehran in 2016 only contributed to Iran’s imports to the US, which experienced a 700-percent rise year-on-year, while the overall trade stood at $260 million, 11 percent less than the preceding year.