Iran-US trade continues to fall

Business Materials 7 February 2018 15:18 (UTC +04:00)

Baku, Azerbaijan, Feb. 7‎

By Trend:

Trade turnover between Iran and the US stood at $200.9 million last year, 22.6 percent less compared to January-December 2016.

The US exports to Iran reached $137.7 million in the 12-month period, which is 19.9 percent less year-on-year, according to the statistics of the United States Census Bureau.

Iran's exports to the US decreased by about 27.9 percent to $63.2 million in the same time span, according to the report.

In December 2017, Iran and the US had a trade turnover worth $24.5 million, $16.1 million of which accounted for the US exports to Iran. In December 2016, the figure was $20 million, $6.8 million of which accounted for Iran’s exports to the US.

Iran’s exports to the US registered a rise by 23.5 percent in December 2017 year-on-year, while the country’s imports from the United States increased by 22 percent.

During 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.‎