US exports to Iran dropped by %51
Iran ranked 138th in trade with the US as trade balance between the two countries stood at $8.8 million over the first seven months of the current year; Trend news reported.
According to the latest data by the US Census Bureau, the two countries’ trade totaled at $3.4 million in July.
The data suggest that the US exports to Iran in the seven-month period dropped by 51 percent.
The US exports to Iran in July valued at $6.8 million. This is while the figure for the seven-month period reached $48.1 million. Iran ranked 145th in the list of US exports.
While the custom basis imports from Iran in July formed $3.4 million, the seven-month figure stood at $39.2 million.
Meanwhile, the CIF basis (cost, insurance and freight) imports from Iran in July reached $3.5 million and the seven-month figure was $40.2 million.
The US Census Bureau and the US Bureau of Economic Analysis, through the Department of Commerce, announced that the goods and services deficit was $43.7 billion in July, up $0.1 billion from $43.5 billion in June. July exports were $194.4 billion, $0.6 billion less than June exports. July imports were $238.1 billion, $0.4 billion less than June imports.
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