Iran’s commercial exchanges with its leading trading partner, China, reached $11.62 billion in the first 10 months of 2021, registering a 6.5% decline compared with the corresponding period of 2020.
Latest data released by China’s General Administration of Customs show Iran’s exports to China totaled $5.24 billion during the period, indicating a 0.8% increase year-on-year.
In return, China exported $6.38 billion worth of commodities to Iran, indicating an 11.7% YOY decrease.
Bilateral trade stood at $1.2 billion in October 2021.
Iran’s exports to China stood at $425.98 million during the month while imports from China amounted to $772.34 million in October 2021.
According to the Islamic Republic of Iran Customs Administration, Iran-China non-oil trade stood at 30.12 million tons worth $18.71 billion in the fiscal 2020-21.
China accounted for 26% of Iran's total non-oil exports, as 26.58 million tons of non-oil goods worth $8.95 billion were shipped from Iran to China during the period.
Pistachio, nuts, minerals, construction materials, methanol, carpet, iron ore, glassware and fruits were the main types of goods exported from Iran to China in the last fiscal year.
Imports from China totaled 3.54 million tons worth $9.76 billion during the year to March 21, 2021, to account for 10.6% of the total volume of Iran's imports and 25.3% of the total value of imports during the period.
Industrial machinery and raw materials, medical equipment, paper, wood, textile, auto parts and sports equipment were Iran's main imports from the South Asian state in the fiscal 2020-21.
Iran’s non-oil trade with the East Asian country declined by over 10% last year, as bilateral trade totaled $20.82 billion in the year ending March 20, 2020.