Iran’s five-month trade with China up 18% YOY to $6.47 billion

Iran’s trade with its leading commercial partner, China, reached $6.47 billion in the first five months of 2022, registering an 18.1% growth compared with the corresponding period of the year before.

5 July 2022
ID : 33858
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Iran’s trade with its leading commercial partner, China, reached $6.47 billion in the first five months of 2022, registering an 18.1% growth compared with the corresponding period of the year before.

Latest data released by China’s General Administration of Customs show Iran’s exports totaled $3.28 billion during the period, indicating an 11.3% year-on-year increase.

In return, China exported $3.19 billion worth of goods to Iran, registering a 25.9% YOY growth. 

Bilateral trade hit $1.45 billion in May 2022 with Iran’s exports at $744.18 million and imports at $703.03 million.

In 2021, Iran’s trade with China stood at $14.78 billion, registering a 1% decline compared with the year before.

Iran’s exports totaled $6.5 billion last year, indicating a 0.9% year-on-year increase. In return, China exported $8.28 billion worth of commodities to Iran, registering a 2.5% YOY decrease. 

According to the Islamic Republic of Iran Customs Administration, Iran-China trade (excluding Iran’s crude oil exports) 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. 

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.

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