Iran imported $3.1 million worth of goods from the US in the first month of 2023, down 36.73% compared with $4.9 million in January 2021, the latest data released by the US Census Bureau show.
Iran did not have any exports to the US during the period, similar to the same month of 2022.
Bilateral trade stood at $56.7 million in 2022, registering a 40% rise compared with the previous year. Exports hit $11.2 million, indicating an 833.33% rise while imports from the US stood at $ 45.5 million, up 15.77%.
Commercial exchanges stood at $40.6 million in 2021 to register a paltry 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.
Bilateral trade 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.
In 2019, the value of trade between the two countries declined by 84.97% 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.