US exports to Iran register 80% increase

Business Materials 8 March 2018 13:03 (UTC +04:00)

Baku, Azerbaijan, March 8

By Gazenfer Hamidov – Trend:

Iran’s exports to the US witnessed fall in 2018, meanwhile the US increased its exports to the Islamic Republic significantly.

Trade turnover between Iran and the US stood at $13.5 million in the first month of 2018.

The figure is 28.6 percent more compared to January 2017, according to the statistics of the United States Census Bureau released March 8.

The US exports to Iran accounted to $8.8 million in the 1-month period, which is 79.6 percent more year-on-year.

Meanwhile Iran's exports to the US decreased by 16.7 percent to $ 4.7million 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.

The US exports to Iran in 2017 reached $137.7 million, which is 19.9 percent less year-on-year.

Iran's exports to the US decreased by about 27.9 percent to $63.2 million in in January-December 2017.

During 2016, 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.‎