51% Decline in Trade With US
EghtesadOnline: Iran’s commercial transactions with the US stood at $26.1 million from January to July 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 $3.2 million worth of goods to the US in the seven-month period, indicating a 166.7% year-on-year rise.
Imports from the US stood at $22.9 million during the same period, down 55.45% YOY.
Bilateral trade in July amounted to $2.3 million, down 65.67% YOY.
Iran’s share of exports to the US in July stood at $200,000 (showing no YOY change), while its imports hit 2.1 million, indicating a 67.69% YOY decrease.
Iran-US trade amounted to $74.5 million in 2019 to register an 84.97% decline compared to the year before.
It 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.