Economy, Domestic Economy

Iranian Exports to US Resume

Iranian Exports to US ResumeIranian Exports to US Resume

Iran exported $20.4 million worth of commodities to the United States during the first four months of 2016. The Islamic Republic had no exports to the US during last year’s corresponding period, the US Census Department reported. The increase in exports comes after the lifting of western sanctions against Iran over its nuclear program in January, as part of a deal clinched between Tehran and world powers earlier in July 2015. The deal paved the way for Iranian traders to resume exports, mainly hand-woven carpet and saffron, to the United States. Meanwhile, imports from the US to Iran stood at $56.8 million for the four-month period, which indicates a 43% decline over last year’s similar duration.