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Latest on Iran-US mutual trade

Business Materials 5 May 2018 16:38 (UTC +04:00)

Baku, Azerbaijan, May 5

By Umid Niayesh - Trend:

According to the latest statistics of the United States Census Bureau, which covers the first quarter of 2018, Iran’s exports to the US witnessed a significant fall, meanwhile the country’s imports from Washington has registered a big rise.

Trade turnover between Iran and the US stood at $46.1 million in the first three months of 2018.

The figure is 3 percent more compared to January-March of 2017, according to the report.

The US exports to Iran accounted to $32.8 million in the 3-month period, which is 58 percent more year-on-year.

Meanwhile Iran's exports to the US decreased by 44 percent to $ 13.3 million in the same time span.

In March 2018, Iran and the US had a trade turnover worth $18.6 million, $12.4 million of which accounted for the US exports to Iran.

All figures are in millions of USD

Month

2018

2017

Growth %

Exports

Imports

Exports

Imports

Export

Import

January

8.8

4.7

4.9

5.6

80

-16

February

11.6

2.4

7.3

7.9

59

-70

March

12.4

6.2

8.6

10.4

44

-40

Total

32.8

13.3

20.8

23.9

58

-44

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 January-December 2017. During 2016, the US exported $172 million worth of goods to Iran.

The United States mostly exports agriculture products and medical equipment to Iran, meanwhile the country’s imports from the Islamic Republic are, mostly pistachios and carpets.

Removal of international sanctions against Tehran in 2016 only contributed to Iran’s exports 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.‎

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