Industrial products constituted over 90% of Iran’s $10.4 billion imports from China during the past fiscal year that ended in March, says the director general of the Commercial Planning Department of the Trade Promotion Organization of Iran, Mohammad Reza Izadian. The imports included intermediate and capital goods worth $6.6 billion and $3.1 billion respectively. “This means consumer goods accounted for less than one billion dollars of the total imports,” IRNA quoted him as saying. According to China’s General Administration of Customs, Iran-China trade in the first five months of 2016 fell 25% compared with last year’s corresponding period to stand at $11.15 billion. Imports declined 23% to reach $5.95 billion while exports stood at $5.2 billion, registering a 28% drop.
