Value of trade between Iran, China reaches USD21.4 billion in 8 months
Date
12/18/2024 3:41:49 AM
(MENAFN) The value of non-oil trade between Iran and China reached USD21.4 billion in the first eight months of the current Iranian calendar year (March 20 – November 20), according to the head of the Islamic Republic of Iran Customs Administration (IRICA), Foroud Asgari. China emerged as a major trade partner for Iran, with the Asian giant importing non-oil goods worth USD9.9 billion from Iran during this period.
In terms of imports, China was the second-largest source of goods for Iran, with non-oil products worth USD11.5 billion coming into the country. This highlights the strong trade ties between the two nations, which have been a key aspect of Iran’s economic strategy, especially amid ongoing challenges such as international sanctions and the global economic slowdown.
For comparison, previous data from the first seven months of the current Iranian calendar year (March 20 – October 21) showed that the total non-oil trade value between Iran and China was USD18.8 billion. During that period, Iran’s non-oil exports to China were valued at USD8.6 billion, cementing China’s position as Iran’s top export destination.
In light of these growing trade figures, Iranian Finance and Economic Affairs Minister Abdolnaser Hemmati emphasized the importance of fully implementing the memorandums of understanding (MOUs) signed between Iran and China during a meeting with Chinese Ambassador to Tehran, Cong Peiwu, on October 15.
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