Iran’s trade with the US stood at $30 million during the first nine months of 2021 to register a 9.37% decline compared with the corresponding period of 2020.
Bilateral exchanges in September 2021 hit $4.3 million, up 48.28% compared with $2.9 million in September 2020.
Latest data released by the US Census Bureau show Iran exported $0.7 million worth of goods to the US in the nine months under review, indicating an 80% year-on-year fall.
Imports from the US stood at $29.3 million during the same period, down 1.01% from $29.6 million during last year’s corresponding period.
Iran’s exports to the US stood at $0.1 million in September, down 50% from last year’s corresponding period, while imports totaled $4.2 million, indicating a 55.56% YOY growth.
Iran’s commercial exchanges with the US hit $40.2 million in 2020, posting a 48.53% decline compared with 2019. It exported $3.9 million worth of goods to the US during last year, indicating a 178.57% year-on-year rise.
Imports from the US stood at $36.3 million during the period, down 52.67% YOY.
Bilateral trade stood at $74.5 million in 2019 to register an 84.97% decline compared to the year before. Iran exported only $1.4 million worth of goods to the US, down 98% YOY while imports from the US totaled $73.1 million in 2019, down 82.83% YOY.
In 2018, the value of trade between the two countries increased by 155% compared to 2017. However, it has been falling drastically ever since.