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Iran imports $213m worth of goods from US in 2015

Iran imports $213m worth of goods from US in 2015

TEHRAN: Iran imported $213 million worth of goods from the U.S. in the first ten months of 2015, a 40 percent rise compared to the same period of time in the previous year, according to the latest report released by the U.S. Commerce Department.

The report says that the U.S. exported over $151.9 million worth of products to Iran during January-October 2014, the Tasnim News Agency reported on Monday. Also, Iran’s imports from the U.S. rose to $28.7 million in October 2015, with 85 percent growth from $15.5 million in October 2014.

The U.S. had no imports from Iran during the ten-month period both in 2015 and 2014. Iran’s rank among the U.S.’s export destinations jumped to 117th in the first ten months of 2015 from 136th in the same period of time in 2014.

The Iran-U.S. trade totaled $182.1 million in 2014, with one hundred percent of the sum related to the U.S.’s exports to Iran. The value of trade between Iran and the U.S. dropped 42 percent in 2014 from 2013.

On October 31, Iranian Industry, Mining, and Trade Minister Mohammadreza Ne’matzadeh said the ministry’s strategy is to ban imports of consumer goods from the U.S. The ministry’s strategy is to promote domestic production and to curb imports of foreign goods, especially from the U.S, he added.

He stressed the need to take advantage of domestic production capacity, saying that the culture of using foreign-made goods should be changed. This will lead to the creation of jobs and income for the youth, the minister added.