According to the latest figures released by China’s General Administration of Customs, cited in a Wednesday report by IRNA, the total value of commercial exchanges between the two countries experienced a minor increase in Jasnuary-May compared with the corresponding period last year, which was $6.47 billion.
Iran’s exports to China totaled $1.9 billion during the period in 2023, registering a 68% decrease.
In return, China’s exports to Iran reached $4.6 billion, indicating a 40% increase.
Crude oil is the most important commodity imported by China from Iran, although the Chinese government do not mention the imports volume as they are mostly imported by private buyers. However, the price of crude oil affects the value and volume of Iranian exports of petroleum products to China.
Iranian exports to China dropped remarkably this year mostly because of a decrease in international oil prices.
According to Iranian customs figures, China is Iran’s largest trade partner. Iran exported some $14.584 billion worth of goods to China in the Iranian calendar year to late March, while the country’s imports from China reached $15.744 billion over the same period.
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