Iran’s commercial exchanges with its leading trading partner, China, stood at $10.43 billion in the first nine months of 2021, registering a 6.9% 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 $4.82 billion during the period, indicating a 4.9% increase year-on-year.
In return, China exported $5.61 billion worth of commodities to Iran, indicating a 15.1% YOY decrease.
Bilateral trade stood at $1.09 billion in September 2021.
Iran’s exports to China stood at $473.4 million during the month while imports from China amounted to $618.49 million in September 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 declines by over 10% last year, as bilateral trade totaled $20.82 billion in the year ending March 20, 2020.
Earlier this year, the Iranian side of Iran-China Chamber of Commerce held a virtual meeting titled "Iran-China Commercial Ties in 2020 and Prospects of Economic Relations in 2021", in the presence of Iran's Ambassador to China Mohammad Keshavarz-Zadeh.
“The government needs to be more determined about boosting trade ties with China,” Majid Reza Hariri, the head of the joint chamber, said at the meeting, calling on officials to take counter measures against the negative atmosphere surrounding the two countries' businesses.
"There is a huge market for Iranian agricultural products, dairy products and seafood … This is a great opportunity for our country," the chamber’s website quoted him as saying.
"Despite the outbreak of Covid-19, we have been pursuing the implementation of Iran-China 25-year strategic cooperation plan," Keshavarz Zadeh said.
He also called for the promotion of Iranian goods in China, "Iranian businesses need to provide detailed information about Iranian goods, if they are planning to export to China.”