Monday , April 23 2018
Breaking News
Home / International Customs / US / US exports to Iran increases versus huge imports fall
US exports to Iran increases versus huge imports fall

US exports to Iran increases versus huge imports fall

WASHING TON: US witnessed a significant fall in 2018, meanwhile the US increased its exports to the Islamic Republic by over 67 percent.

Trade turnover between Iran and the US stood at $27.5 million in the first two months of 2018.

The figure is 7 percent more compared to January-February 2017, according to the statistics of the United States Census Bureau.

The US exports to Iran accounted to $20.4 million in the 2-month period, which is 67.2 percent more year-on-year.

Meanwhile Iran’s exports to the US decreased by 47.4 percent to $ 7.1 million in the same time span, according to the report.

In February 2018, Iran and the US had a trade turnover worth $14 million, $11.6 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 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.‎