16 Apr 2024
Saturday 9 July 2016 - 15:11
Story Code : 222021

Moderate drop seen in Iran-US trade



The latest official figures show there has been a moderate decrease in the level of trade between Iran and the United States over the past five months.

Figures released by the US administration show that the worlds leading economy imported $27.6 million from Iran between January to May. The figure shows a decrease of 17 percent compared to the same period last year.

The overall level of trade between the two countries over the same period last year stood at above $112 million. This, however, has now dropped to as low as $93.1 million over the period which is specifically marked by the removal of sanctions against Iran in January.

US exports to Iran over the first five months of the current year stood at $65.5 million which shows a decrease of 41 percent compared to the last year.

The figures on the level of trade between the two countries have been released by the US Census Bureau. The Bureau has not detailed the items that made up the bulk of Iran's exports to the United States, but they normally include carpets, caviar and pistachios.

Previous reports in Irans media said the most important items that the country imported from the US were medical and food supplements, butter, wood paste, bull semen, prosthetic parts and plant seeds.

Figures previously released by the US Department of Commerce show the highest volume of exports to Iran over the past 10 years were made in 2008 when the country exported $683 million worth of goods to the Islamic Republic.

The highest volume of imports from Iran has been recorded for 2005 when Iran exported a sum of $174.5 million worth of goods to the States.

By Press TV

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