Monday 31 January 2022

US still trading with Iran despite sanctions

According to the data released by the Islamic Republic of Iran Customs Administration (IRICA), the value of trade between Iran and the United States has reached US$69.594 million since the beginning of the current Iranian calendar year (March 21, 2021) up to late January 2022.

As ILNA reported, during the mentioned period Iran exported US$248,000 worth of commodities to the US, while the value of imports from the country was reported at US$69.345 million.

The value of trade between the two countries increased 18% as compared to the figures for the previous year. The value of exports to the US increased 253% as compared to the previous year, when exports were reported at US$136,000.

The imports, however, decreased by 17% compared to the figure for the previous year during which Iran imported US$79.836 million worth of commodities from the US, the US ranked 23rd among the top exporters to the Islamic Republic.

The value of Iran’s non-oil exports rose 38% during the first 10 months of the current Iranian calendar year (March 21, 2021-January 20, 2022), as compared to the same period of time in the past year, according to IRICA Head Alireza Moghadasi.

Iran exported over 100 million tons of non-oil products worth US$38.763 billion in the mentioned period, the official said.

According to Moghadasi, the weight of exports in the mentioned period also grew by seven percent in comparison to the figure for the previous fiscal year’s same 10 months.

He said major export destinations of the Iranian non-oil goods were China, Iraq, and Turkey during the said 10 months.

The IRICA head further announced that the Islamic Republic imported 33 million tons of non-oil commodities worth US$41.473 billion in the mentioned period, a 34% growth in value and a 17$ rise in weight, year on year.

The United Arab Emirates was the top exporter to Iran during the period under reiew, followed by China, Turkey, Germany, and Switzerland, he stated.

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