The South Korea-Iran trade turnover amounted to $5.126 billion in January-June 2018, 16.5 percent less year-on-year, according to the latest data released by the Korean Customs Service.
According to Trend news, The negative balance of South Korea in trade with Iran amounted to $1.68 billion during the first half of 2018.
South Korea exported $1.72 billion worth of goods to Iran in the six-month period, which is less by 15 percent compared to the same period of 2017.
Meanwhile, the country’s imports from Iran hit $3.4 billion in the same span of time, indicating a fall by 17 percent compared to January-June 2017.
The trade fall between the two countries comes after a huge rise in 2017. The Iran-South Korea trade volume hit $12 billion last year, witnessing a rise by 43.6 percent compared to 2016.
South Korea imported $7.99 billion worth of commodities, including oil, from Iran in January-December 2017, which is more by 58 percent compared to the same period of 2016.
The country also exported $4 billion worth of goods to the Islamic Republic in the 12-month period, registering a 92 percent rise compared to 2016.