Tehran, Iran — The trade exchanges between Iran and China in the first seven months of the current year reached $8.540 billion, with China’s export of products to Iran accounting for $6 billion of it.
The trade declined by 11 percent compared to the same period last year, China’s Customs Office reported.
Iran and China exchanged over $9.6 billion worth of products from January to July 2022, the report added, Tasnim news agency reported.
In the first seven months of 2023, China imported $2.540 billion worth of products from Iran, registering a 43 percent drop compared to last year’s corresponding period.
But China’s export of products to Iran in the first seven months of the current year reached $6 billion, showing a 17 percent growth compared to the same period last year.
China had exported $5.130 billion worth of products to Iran from January to July 2022.
According to this report, the trade balance of the two countries in this period reached $3.460 billion in favor of China.
China’s top exports to Iran are mainly auto-industry related such as motor vehicles, parts and accessories, vehicle bodies (including cabs), spark ignition engines and electric motors.
China top imports from Iran are Ethylene Polymers, Refined Copper, Raw Aluminum, Iron Ore and Acyclic Alcohols, although this mix can be expected to change with China importing more hydrocarbons.
Iran’s share within China’s total global trade in 2022 was only 0.25 percent. China’s global trade reached US$6.308 trillion in 2022, of which US$3.593 trillion were exports, and US$2.715 trillion imports.
