The official data of the United States show that the country’s trade with the Islamic Republic of Iran has more than doubled in the first quarter of this year.
According to IRNA, the US Bureau of Statistics announced in its latest report that the country’s trade exchange with Iran reached $27.7 million in the first three months of 2024, an increase of 103% compared to the same period last year.
Based on the same data, the exchange of bilateral trade between the two countries was at $13.6 million in the months of January to March in 2023.
The two-fold growth in Iran-US trade in the first quarter of 2024 followed a steady rise in trade exchanged between the two sides in the previous year that saw 8% growth and reached $61.2 million.
According to this report, the trade surplus is still in favor of the United States as its export to Iran increased by 77% in the first three months of 2024 to $23.8 million compared to $13.4 million in the same period of the last year.
The country's imports from Iran in the first quarter of this year also increased 20 times compared to the same period last year and reached $3.9 million from $0.2 million in the first quarter of 2023.
The amount of trade between Iran and the US is not significant compared to the total trade of the two countries with the rest of the world. Iran ranks 152 among the export destinations of the United States.