Crude oil accounted for biggest share of Iranian exports to China

According to the data released by the Chinese customs administration, the trade between the two countries stood at 6.4 billion in the first five months of 2020.

Iranian exports to China reached $2.5 billion in the said period, seven percent less than the figure for the same time span in 2020. Iran had exported $2.7 billion of commodities to China in January-May 2020.

Crude oil accounted for the biggest share of Iranian exports to China in 2020, according to the customs data.

The imports from the Asian country stood at $3 billion in the mentioned five months, 19 percent less than the $3.7-billion in the previous year’s same five months.

Iran’s trade balance with China was $500 million negative in the said five months.

The value of Iran-China non-oil trade stood at $18.715 billion in the past Iranian calendar year (ended on March 20), according to the spokesman of the Islamic Republic of Iran Customs Administration (IRICA).

Ruhollah Latifi put the weight of bilateral trade at 30.128 million tons and said that China was Iran’s first non-oil trade partner in the past year.

Iran’s export to China was 26.585 million tons worth $8.954 billion, and its imports from that country were 3.543 million tons valued at $9.761 billion in the previous year, the official announced.

Pistachios, nuts and spices, mineral and industrial raw materials, construction materials, methanol, polyethylene, carpets, glassware, iron ingots, iron products, dates, grapes, and fruits, along with petroleum products were Iran’s main exported items to China, Latifi stated.

He mentioned machinery and industrial raw materials, medical equipment, cereals, yeasts, paper, wood and boards, fabrics and yarns, auto parts, all kinds of wires, sports equipment, data processing machines, glasses, and all kinds of yeasts and seeds as Iran’s major imported items from China.

Iran and China officially signed a document for 25-year comprehensive cooperation in late March.

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