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25 December 2018 - 20:04
Iran exports to China near $20b in 11 months

Iran's exports to China from January to November this year reached about $20 billion, according to data released by the East Asian country's customs office.

Chinese imports from Iran in the first 11 months of 2018 reached $19.7 billion, showing a 16-percent increase compared to the figure for the same period last year, according to China's customs office, reported Tasnim News Agency.

The total value of Iranian exports to China from January to November 2017 amounted to $16.9 billion, the data showed.

China's exports to Iran from January to November 2018 stood at $13.7 billion, decreasing by 17 percent compared to the figure for the same period in 2017. China exported $16.5 billion worth of goods to the Islamic Republic in the first 11 months of 2017.

Iran's trade balance — the difference between the monetary value of exports and imports — amounted to $6 billion this year, according to the report.

The rise in the country's exports comes despite the US sanctions against Iran.

US President Donald Trump walked away from the 2015 nuclear deal between Iran and world powers in May and reimposed sanctions on the Islamic Republic.

Following the US exit from the nuclear deal, Iran and the remaining parties launched talks to save the accord.

On August 6, Trump signed an executive order reimposing many sanctions on Iran, three months after pulling out of the Iran nuclear deal.

He said the US policy is to exert "maximum economic pressure" on the country.

The second round of US sanctions against the Islamic Republic went into effect on November 4.

News Code 189772

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