Trade with China down 41 percent
The volume of trade exchange between Iran and China has dropped by 41% amid plunging oil prices.
Sino-Iran trade dropped to USD 2.07 billion in January 2016, showing a 41% year-on-year decrease, the Tasnim News Agency reported China’s customs office as saying on Saturday.
Chinese-Iranian trade stood at USD 3.5 billion back in January 2015.
According to the report, exports from China to Iran declined to $1.3 billion in January 2016 from $2.25 billion a year earlier, showing a 42% decrease.
Also, China’s imports from Iran dropped to $1.25 billion USD in the same period, showing a year-on-year 39% slump.
The decline in the bilateral trade comes against a backdrop of plunging crude oil prices in recent months.
Beijing is the top customer of Iran’s crude and is seen as Tehran’s largest trade partner.
Bilateral trade between the two countries stood at UDS 31.09 billion in 2015, witnessing a 34% decrease compared to the previous year.
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