August 17, 2022

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Iran exports commodities worth $5.6b to China in 4 months

TEHRAN- Iran exported non-oil products valued at $5.617 billion to China in the first four months of the current Iranian calendar year (March 21-July 22), according to the data released by the Islamic Republic of Iran Customs Administration (IRICA).

Based on the IRICA data, China was Iran’s first main export destination in the four-month period.

Iran has also imported goods worth with $4.422 billion from China in the first four months of this year.

China was Iran’s second source of imports in the mentioned time span.

According to the data previously released by China’s customs administration, the value of Iran’s non-oil exports to China reached $4.081 billion in the first six months of 2022, registering a 31-percent rise year on year.

The Islamic Republic exported $3.116 billion worth of goods to China in January-June 2021.

Based on the mentioned data, Iran and China traded $8.263 billion worth of commodities in the mentioned six months to register a 23 percent increase compared to the same period in 2021 in which the figure stood at $6.722 billion.

China’s exports to Iran in the first six months of 2022 also grew by 16 percent compared to the previous year to reach $4.182 billion. The Asian country had exported $3.606 billion worth of goods to Iran in the same period of the previous year.

Iran-China non-oil trade stood at $14.8 billion in 2021, according to China’s customs administration.

The value of trade between the two countries during the previous year declined by less than one percent in comparison to 2020 in which the figure was reported to be $14.9 billion.

China’s imports from Iran in 2021 grew by more than one percent compared to the previous year and reached $6.5 billion. China imported $6.4 billion worth of goods from Iran in 2020.

However, China’s exports to Iran in January-December 2021 fell by about two percent to $8.3 billion from $8.5 billion in the previous year.

Iran mainly exports foodstuff and agricultural products to China while importing machinery and industrial raw materials, medical equipment, fabrics, and auto parts.

China is one of Iran’s main trade partners that has maintained strong trade ties with the Islamic Republic despite the strict U.S sanctions.

Iran and China officially signed the document for 25-year comprehensive cooperation in March 2021.

The document was signed between Iran’s former Foreign Minister Mohammad Javad Zarif and Chinese Foreign Minister Wang Yi at the Iranian Foreign Ministry.

MA/MA

Original News : https://www.tehrantimes.com/news/475371/Iran-exports-commodities-worth-5-6b-to-China-in-4-months

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