China tops Iran’s export destination in March–August
Iran exported non-oil commodities valued at $5.6 billion to China during the first five months of the current Iranian year (March 21–August 22), more than any other business partner, the Islamic Republic of Iran Customs Administration (IRICA) announced.
IRICA also announced that exporting non-oil goods worth $7.1 billion to Iran, China was Iran’s second source of imports in the five month period.
Figures published by the Tehran Chamber of Commerce indicate that during the said period, $19.3 billion worth of non-oil commodities were exported from the country.
Iraq and the United Arab Emirates (UAE) were reportedly the second and third largest consumers of Iranian goods by importing $3.5 billion and $2.3 billion worth of products, respectively, according to ISNA.
Trade between Iran and the United Arab Emirates has surged as the Gulf’s commercial capital eased restrictions on business activity between the two neighbors, officials and traders told the Financial Times.
Executives said the UAE has in recent months rolled back limits on corporate registrations and the issuance of visas to companies from Iran, which remains subject to tough US sanctions. Iranian financiers are also exploring how to enhance bilateral trade by creating financial mechanisms to fund legitimate transactions, they added.