H1 Trade With US Halves
EghtesadOnline: Iran’s commercial transactions with the US stood at $23.8 million during the first six months of 2020 to register a 51.1% decline compared with the corresponding period of 2019.
Latest data released by the US Census Bureau show Iran exported $3 million worth of goods to the US in H1, indicating a 200% year-on-year rise.
Imports from the US stood at $20.8 million during the same period, down 53.67% YOY.
Bilateral trade in June amounted to $3.7 million, down 26% YOY.
Iran’s share of exports to the US in June stood at $100,000 (showing no YOY change), while its imports hit 3.6 million, indicating a 26.53% YOY decrease.
Iran-US trade amounted to $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 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.