Iran-China trade reaches $6.5 bln in 5 months
Tehran, IRNA – The value of bilateral trade between Iran and China reached $6.5 billion during the first five months of 2023, Chinese source reported.
According to the latest figures released by China’s General Administration of Customs, cited in a Wednesday report by IRNA, the total value of commercial exchanges between the two countries showed a minor increase compared with the corresponding period last year, which was $6.47 billion.
Iran’s exports to China totaled $1.9 billion during the period in 2023, registering a 68% decrease.
In return, China’s exports to Iran reached $4.6 billion, indicating a 40% increase.
Crude oil is the most important commodity imported by China from Iran, the price of which has decreased during this period.
Iranian exports to China dropped remarkably this year mostly due to a decrease in international oil prices.
According to Iranian customs figures, China is Iran’s largest trade partner. Iran exported some $14.584 billion worth of goods to China in the Iranian calendar year to late March, while the country’s imports from China reached $15.744 billion over the same period.
