Iran’s commercial exchanges with its leading trade partner, China, reached $7.53 billion during the first half of 2023, registering an 8.1% decrease compared with the corresponding period of the year before.
Latest data released by China’s General Administration of Customs show Iran’s exports totaled $2.2 billion during the six-month period ending June, indicating a 45.8% year-on-year fall.
In return, China exported $5.32 billion worth of goods to Iran, registering a 29.1% increase.
Bilateral trade hit $1.09 billion in June 2023 with Iran’s exports at $308.7 million and imports at $788.65 million.
Iran’s trade with China in 2022 stood at $15.79 billion, registering a 7% increase compared with the year before. Iranian exports totaled $6.35 billion last year, indicating a 2.3% year-on-year decrease, while China exported $9.44 billion worth of commodities to Iran, registering a 14.3% increase.
China has been the biggest destination for Iran’s exports of minerals and mining products in terms of value in recent years, new data released by the Iranian Mines and Mining Industries Development and Renovation Organization show.
Total exports stood at 48.69 million tons worth $12.24 billion in the last Iranian year (March 2022-23).
With over 10.94 million tons worth $2.9 billion, China accounted for 22.5% of weight and 23.7% of value of last year’s total exports respectively.
China has remained Iran's largest trading partner for 10 consecutive years ending 2022, according to the Chinese Ministry of Commerce.