Iran imported $13.4 million worth of goods from the US during the first three months of 2023, up 31.37% compared with $10.2 million in the same period of 2022, the latest data released by the US Census Bureau show.
This is while exports to the US stood at $200,000 during the period, down 95.74% when compared to $4.7 million in the same period of 2022.
These figures indicate that Iran’s trade with the US stood at $13.6 million in the three-month period, registering an 8.72% decrease.
Bilateral exchanges in March 2023 hit $4 million, down 49.36% compared with $7.9 million year-on-year.
Iran’s exports to the US during the month reached $100,000, down 97.82% year-on-year. Imports from the US totaled $3.9 million, indicating an 18.18% YOY increase in March.
Bilateral trade stood at $56.7 million in 2022, registering a 40% rise compared with the previous year. Exports hit $11.2 million, indicating an 833.33% rise while imports from the US reached $45.5 million, up 15.77%.
Commercial exchanges stood at $40.6 million in 2021 to register a meager 1% rise compared with the year before. Exports stood at $1.2 million, indicating a 69.23% YOY fall while imports from the US stood at $39.4 million, up 8.54% YOY.
Bilateral trade reached $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% YOY rise. Imports from the US stood at $36.3 million, down 52.67% YOY.
In 2019, the value of trade between the two countries declined by 84.97% compared to 2017.
According to Ahmadreza Farshchian, a Tehran Chamber of Commerce official, Iran’s exports to the US are limited to those carried by passengers for Iranian supermarkets in the United States.
"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 for fear of the consequences of violating Washington’s sanctions,” he said.
According to Hassan Shokouhi, the head of Food Supplement Importers Union, American medicines find their way to the Iranian market via third-party countries, mainly the UAE.
