Iran suffers 40.6pc decline to US$9.8 billion in trade with China
IRAN's commercial exchanges with its biggest trading partner, China, hit US$9
IRAN's commercial exchanges with its biggest trading partner, China, hit US$9.8 billion from January to August to register a 40.6 per cent decline year on year, reports Tehran's Financial Tribune.
According to data provided by the General Administration of Customs of the People's Republic of China, Iran's exports to China stood at $3.85 billion during the period under review, indicating a 6.7 per cent year-on-year drop.
In return, China exported $5.95 billion worth of commodities to Iran to register a 61.9 per cent decrease.
Bilateral trade in August stood at $1.14 billion, such that Iran's exports to China accounted for $321.9 million of the sum while imports stood at $826.5 million.
Iran's trade with China in 2019 stood at $23.02 billion to register a decline of 34.3 per cent compared to 2018. It exported $13.43 billion worth of commodities to China last year, 36.3 per cent less than less year. In return, China exported $9.59 billion worth of goods to Iran, down 31.2 per cent.