Value of Iran’s commodity imports from China reaches USD1.755B in 1 month
Date
11/17/2024 2:58:19 AM
(MENAFN) In the seventh month of the Iranian calendar (Mehr, spanning from September 22 to October 21), Iran imported commodities worth USD1.755 billion from China, according to the spokesman of the International Relations and Trade Development Committee of Iran’s House of Industry, Mining, and Trade. Ruhollah Latifi stated that during this period, China was the second-largest source of imports for Iran, highlighting the significant role the country plays in Iran’s trade relations. The value of imports reflects ongoing economic exchanges between the two nations.
Simultaneously, China was also a key destination for Iranian exports. The official revealed that Iran exported non-oil goods worth USD1.434 billion to China during the same period, making it the second-largest export market for Iranian products. This continued trade partnership underscores China’s pivotal role in Iran’s non-oil sector, with both countries benefiting from a steady flow of commodities in both directions.
Looking at a broader timeframe, Mohammad Rezvanifar, the former head of the Islamic Republic of Iran Customs Administration (IRICA), shared that the value of non-oil trade between Iran and China reached USD18.8 billion during the first seven months of the Iranian calendar year (March 20 to October 21). Of this, Iran’s exports to China amounted to USD8.6 billion, confirming that China remains Iran’s top export destination. Meanwhile, Iran imported goods worth USD10.2 billion from China during the same period, with China continuing to rank as the second-largest source of Iranian imports.
Further reinforcing the strengthening of bilateral ties, Iranian Finance and Economic Affairs Minister Abdolnaser Hemmati met with Chinese Ambassador to Tehran, Cong Peiwu, on October 15 to discuss the implementation of memorandums of understanding (MOUs) signed between the two countries. Hemmati emphasized the importance of following up on agreements made during the BRICS Economic Ministers' Meeting in Samarkand, Uzbekistan, highlighting the shared interest in deepening economic cooperation and ensuring that the signed MOUs are effectively put into action.
MENAFN17112024000045015839ID1108893940
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.