US imports from Iran increases by 30%

By  Trend

According to the latest statistics of the United States Census Bureau, which covers the first five month of 2018, the US imports from Iran has registered a rise by 30 percent in May.

Trade turnover between Iran and the US stood at $78.8 million in the first five months of 2018, 20 percent more year-on-year.

The US exports to Iran accounted to $50.2 million in the 5-month period, which is 59 percent more year-on-year.

Meanwhile Iran's exports to the US decreased by 17 percent to $ 28.6 million in January-May 2018.

In May 2018, Iran and the US had a trade turnover worth $11.3 million (8 percent more year-on-year), 5.2 million of which accounted for the US exports to Iran.

All figures are in millions of USD

The US exports to Iran in 2017 reached $137.7 million, which is 19.9 percent less year-on-year.

Iran's exports to the US decreased by about 27.9 percent to $63.2 million in January-December 2017. During 2016, the US exported $172 million worth of goods to Iran.

The United States mostly exports agriculture products and medical equipment to Iran, meanwhile the country’s imports from the Islamic Republic are, mostly pistachios and carpets.

Following the US president's withdrawal from the nuclear deal with Iran, the Treasury Department announced last month that it had revoked licenses that allowed US-controlled foreign firms to export commercial aircraft parts to Iran, and Americans to trade in Iranian carpets, pistachios and caviar.

Removal of international sanctions against Tehran in 2016 only contributed to Iran’s exports to the US, ‎which experienced a 700-percent rise year-on-year, while the overall trade stood at $260 million, 11 percent less than the preceding ‎year.‎

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