Iran Exports to China Nears $20bln in 11 Months

TEHRAN (Tasnim) – The total value of Iranian exports to China from January to November this year reached about $20 billion, data released by the East Asian country’s customs showed.

Iran Exports to China Nears $20bln in 11 Months

The Chinese imports from Iran in the first 11 months of 2018 reached $19.7 billion, showing a 16 percent increase compared to the same period last year, according to China’s customs office.

The total value of Iranian exports to China from January to November 2017 had amounted to $16.9 billion, the data showed.

China's exports to Iran from January to November 2018 stood at $13.7 billion, decreasing by 17 percent compared to the same period in 2017. China exported $16.5 billion worth of goods to the Islamic Republic in the first 11 months of 2017.

Iran’s balance of trade- the difference between the monetary value of exports and imports - amounted to $6bln this year, according to the report. 

The rise in the country’s exports comes despite the US sanctions against Iran. 

US President Donald Trump walked away from the 2015 nuclear deal between Iran and world powers in May and re-imposed sanctions on the Islamic Republic.

Following the US exit from the nuclear deal, Iran and the remaining parties launched talks to save the accord.

Trump on August 6 signed an executive order re-imposing many sanctions on Iran, three months after pulling out of the Iran nuclear deal.

He said the US policy is to levy “maximum economic pressure” on the country.

The second batch of US sanctions against the Islamic Republic took effect on November 4.

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