Domestic Economy
0

50% Decline in Trade With US

50% Decline in Trade With US50% Decline in Trade With US

Iran’s trade with the US stood at $30 million from January to August 2020 to register a more than 50% decline compared with the corresponding period of 2019.
Latest data released by the US Census Bureau show Iran exported $3.3 million worth of goods to the US during the seven-month period, indicating a 153.8% year-on-year rise. 
Imports from the US stood at $26.9 million during the same period, down 55.6% YOY. 
Bilateral trade in August stood at $4 million, down 56.5% YOY.
Iran’s exports to the US in August stood at $100,000 (no significant YOY change), while its imports hit $3.9 million, indicating a 57% YOY decrease.
Iran-US trade hit $74.5 million in 2019 to register an 84.97% decline compared to the year before.
Iran exported $1.4 million worth of goods to the US last year, down by 98% YOY.
Imports from the US totaled $73.1 million in 2019, down by 82.83% YOY.
In 2018, the value of trade between the two countries increased by 155% compared to 2017, after the reimposition of US sanctions on Iran. However, it has been falling drastically ever since.

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com