Iran's non-oil trade with China reached $7.8 billion in the first quarter

According to the Iranian Customs Administration (IRICA), non-oil commerce between Iran and China reached $7.8 billion in the first quarter of the current Iranian calendar year (March 21 to June 22, 2023), indicating greater economic relations between the two countries.

Iran (IMNA) - The chief of the Iran Customs Administration (IRICA), Mohammad Rezvanifar, gave light on the expanding commercial relations between Iran and China. Rezvanifar stated that Iran's non-oil exports to China totaled $3.5 billion between March 21 and June 22, 2023. Concurrently, imports from China totaled $4.3 billion.

The data represents a continuation of last year’s vigorous trade exchanges, which cumulatively reached $30 billion. The non-oil trade between the two countries in Q1 has thus already achieved a substantial portion of the preceding year’s total.

Iran exported 35.5 million tons of non-oil items worth $12.5 billion in the first quarter of the current Iranian calendar year. At the same time, the country purchased 8.6 million tons of commodities worth $14 billion.

When compared to the same time the previous year, these import numbers show a 1% increase in weight and a 5.9% increase in value. The IRICA president also stated that overall non-oil commerce increased by 24.42 percent in terms of weight, but down by 8.84 percent in terms of value compared to last year.

During this time, Iran's top export destinations were China, Iraq, Turkey, the United Arab Emirates (UAE), and India. China's prominence among these nations is due to the 25-Year Iran-China Partnership Cooperation Contract, which reinforces China's position as an important trading partner for the Islamic Republic of Iran.

News ID 674295


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