Iran’s trade with the US stood at $40.6 million in 2021 to register a meager 1% growth compared with the year before.
Latest data released by the US Census Bureau show Iran’s exports stood at $1.2 million, indicating a 69.23% year-on-year fall.
Imports from the US stood at $39.4 million, up 8.54% YOY.
Bilateral exchanges hit $3.4 million in December 2021, down 2.86% compared with $3.5 million in December 2020.
Iran’s exports to the US stood at $0.1 million in December, up 100% from last year’s corresponding period, while imports totaled $3.3 million, indicating a 5.71% YOY decline.
Commercial exchanges stood at $40 million in 2020, posting a 48.53% decline compared with 2019. Iran exported $3.9 million worth of goods to the US in 2020, indicating a 178.57% year-on-year rise. Imports from the US stood at $36.3 million, down 52.67% YOY.
Bilateral trade stood at $74.5 million in 2019 to register an 84.97% decline compared to the year before. Iran exported only $1.4 million worth of goods to the US, down 98% YOY while imports totaled $73.1 million, down 82.83% YOY.
In 2018, the value of trade between the two countries increased by 155% compared to 2017.
According to Ahmadreza Farshchian, a Tehran Chamber of Commerce official, Iran’s exports to the US are limited to those shipped by passengers with Iranian supermarkets in the United States as their destination.
"American businessmen and companies have not bought Iranian goods for years and there is no import from Iran. American companies are reluctant to do business with Iran in fear of the consequences of violating Washington’s sanctions,” he added.
According to Hassan Shokouhi, the head of Food Supplements Importers Union, American medicines find their way to the Iranian market via third-party countries, mainly the UAE.
The US government reinstated on Friday Iran sanctions waivers as part of ongoing talks to revive the Joint Comprehensive Plan of Action, better known as the 2015 nuclear deal. The waivers allow foreign companies to engage in certain non-proliferation nuclear activities, including in relation to Iran’s Arak reactor, Fordow facility and Bushehr power plant, Europeansanctions.com reported.
Iran sanctions waivers were previously revoked after the US withdrew from the 2015 nuclear agreement.
Diplomats from Iran and world powers reconvened in Vienna, Austria, on Tuesday to seek a deal reviving Tehran's 2015 nuclear accord, with pressure mounting for results.
Negotiators from Iran and the remaining parties to the agreement - Britain, France, Germany, Russia and China - got back to work after a break of a little over a week to return to their capitals for consultations.
The United States has participated indirectly in the talks because it withdrew from the accord in 2018. US President Joe Biden has signaled that he wants to rejoin the deal.
The accord granted Iran sanctions relief in exchange for curbs on its nuclear program.
When the US reimposed heavy sanctions, Iran responded by increasing the purity and amount of uranium it enriches and stockpiles.
Iran insists that its program is peaceful.
Officials say that the talks are reaching their final stage, though it's unclear how long that might take. The negotiations have dragged on for months, punctuated by a long gap last year caused by the arrival of a new government in Iran. The current eighth round started just after Christmas.
In Beijing, Chinese Foreign Ministry Spokesperson Zhao Lijian said on Tuesday that the talks are "currently at a crucial juncture" and that all involved "should enhance the sense of urgency".
"As the culprit in the Iranian nuclear crisis, the US should thoroughly correct its wrong policy of maximum pressure on Iran and lift all illegal sanctions on Iran and third parties," Zhao said. "On this basis, the Iranian side should resume full compliance."
