Trade Between Iran, US Surges Over 100% in Early 2024

The US Bureau of Statistics has recently revealed that the trade exchanges between Iran and the United States experienced a remarkable 112% growth in the January-February 2024 period.

Iran (IMNA) - In comparison to the previous year, the trade volume increased from $9.6 million to $20 million. This significant increase was mainly driven by a more than threefold rise in the exchange of goods between the two nations.

During this time, the United States exported over $16.6 million worth of products to Iran, marking a 74% increase compared to the same period in 2023. This impressive growth can be attributed to the strengthening of trade relations between the two countries, as the US exported $9.5 million worth of goods to Iran in the corresponding period last year.

"US Imports from Iran Skyrocket in Early 2024, Marking a Significant Increase in Trade"

A recent report has highlighted that the US imports of products from Iran reached a staggering $3.8 million in the January-February 2024 period, marking a massive 38-fold increase compared to the same time in the previous year. This surge in imports has contributed to Iran ranking 148th among the US export target markets during this period.

Furthermore, American exports to Iran in February 2024 reached $9.4 million, showing a 46% growth compared to the same month in the previous year. Intriguingly, the US imported $0.4 million worth of goods from Iran in February 2024, which is four times more than the same month in 2023. This increase in trade between the two countries demonstrates the evolving nature of their economic relationship.

News ID 743223


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