Iran’s trade with the US stood at $51.3 million during the first 11 months of 2022, registering a 37.53% rise compared with the previous year.
Latest data released by the US Census Bureau show Iran exported $11 million worth of goods to the US during the period, registering an 816.66% year-on-year rise.
Iran’s imports from the US stood at $40.3 million, up 11.63%.
Bilateral exchanges in November 2022 hit $4.8 million, up 41.17% compared with $3.4 million year-on-year.
Iran’s exports to the US during the month reached $100,000, unchanged year-on-year. Imports from the US totaled $4.7 million, indicating a 42.42% YOY increase in November.
Bilateral trade stood at $40.6 million in 2021 to register a meager 1% rise compared with the year before. Exports stood at $1.2 million, indicating a 69.23% YOY fall while imports from the US stood at $39.4 million, up 8.54% YOY.
Commercial exchanges reached $40 million in 2020, posting a 48.53% decline compared with 2019. Iran exported $3.9 million worth of goods to the US in 2020, indicating a 178.57% YOY rise. Imports from the US stood at $36.3 million, down 52.67% YOY.
Bilateral trade amounted to $74.5 million in 2019 to register an 84.97% decline compared to the previous year. Iran exported only $1.4 million worth of goods to the US, down 98% YOY while imports totaled $73.1 million, down 82.83% YOY.
In 2018, the value of trade between the two countries increased by 155% compared to 2017.
According to Ahmadreza Farshchian, a Tehran Chamber of Commerce official, Iran’s exports to the US are limited to those carried by passengers for Iranian supermarkets in the United States.
"American businessmen and companies have not bought Iranian goods for years and there is no import from Iran. American companies are reluctant to do business with Iran for fear of the consequences of violating Washington’s sanctions,” he said.
According to Hassan Shokouhi, the head of Food Supplement Importers Union, American medicines find their way to the Iranian market via third-party countries, mainly the UAE.