(MENAFN- AzerNews) By
Iran and South Korea started 2018 with a significant fall in their bilateral trade.
The bilateral trade witnessed a fall by 25.6 percent in January 2018 and stood at $827.714 million, according to the latest data released by the Korean Customs Service.
South Korea exported $307.6 million worth of goods to Iran in January 2018, which is less by 6 percent compared to the same period of 2017.
Meanwhile the country's imports from Iran hit $520 million in the one-month period, indicating a fall by 33 percent compared to January 2017.
Iran-South Korea trade in January (1,000 USD)
| 2018 | 2017 | Export change % | Import change % |
| Export | Import | Trade balance | Export | Import | Trade balance |
| 307,666 | 520,048 | -212,382 | 327,842 | 785,219 | -457,377 | -6.15% | -33.77% |
The trade fall between the two countries comes after experiencing a huge rise in 2017. The Iran-South Korea trade volume hit $12 billion last year, witnessing a rise by 43.6 percent compared to 2016.
South Korea imported $7.99 billion worth of commodities, including oil, from Iran in January-December 2017, which is more by 58 percent compared to the same period of 2017.
The country also exported $4 billion worth of goods to the Islamic Republic in the 12-month period, registering a 92 percent rise compared to 2016.
Iran-South Korea trade (1,000 USD)
| Month | 2017 | 2016 | Growth rate % |
| Export | Import | Export | Import | Export | Import |
| Total | 4,021,060 | 7,989,300 | 3,716,566 | 4,647,659 | 92.43% | 58.17% |
| 01 | 327,842 | 785,219 | 163,519 | 216,574 | 100.49% | 262.56% |
| 02 | 296,578 | 740,799 | 233,082 | 224,097 | 27.24% | 230.57% |
| 03 | 301,688 | 1,023,745 | 260,603 | 235,524 | 15.77% | 334.67% |
| 04 | 371,711 | 610,414 | 192,006 | 250,526 | 93.59% | 143.65% |
| 05 | 370,263 | 450,133 | 295,772 | 388,598 | 25.19% | 15.84% |
| 06 | 366,342 | 491,416 | 382,002 | 376,659 | -4.1% | 30.47% |
| 07 | 288,205 | 578,851 | 375,916 | 424,246 | -23.33% | 36.44% |
| 08 | 335,607 | 626,615 | 317,842 | 392,619 | 5.59% | 59.6% |
| 09 | 390,707 | 778,877 | 347,520 | 537,774 | 12.43% | 44.83% |
| 10 | 267,212 | 731,976 | 431,117 | 319,021 | -38.02% | 129.44% |
| 11 | 324,240 | 615,010 | 319,088 | 695,622 | 1.61% | -11.59% |
| 12 | 380,662 | 556,239 | 398,094 | 586,392 | -4.38% | -5.14% |
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