Q1-3 Trade With US Halves
EghtesadOnline: Iran's trade with the US stood at $33.1 million from January to September 2020 to register a 50.37% decline compared with the corresponding period of 2019.
Latest data released by the US Census Bureau show Iran exported $29.4 million worth of goods to the US during the nine-month period, indicating a 169.2% year-on-year rise. Imports from the US stood at $32.9 million during the same period, down 54.76 YOY.
Bilateral trade in September stood at $2.9 million, down 35.5% YOY. Iran's exports to the US in September stood at $200,000 (two-times higher than September 2019), whereas its imports hit $2.7 million, indicating an 8% YOY decrease.
Iran-US trade hit $74.5 million in 2019 to register an 84.97% decline compared to the year before. Iran exported $1.4 million worth of goods to the US last year, down by 98% YOY. Imports from the US totaled $76.7 million in 2019.
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.
Trade between the two countries amounted to $787.3 million in 2008, the highest since 2000.