China Becomes Iran’s Most Important Trade Partner with $18.6 Billion in Trade

Alireza Moqadasi, head of Iran’s customs organization, stated that Iran’s foreign trade “exceeded $72 billion in the first nine months of this year,” announcing China’s share in Iran’s non-oil exports and imports at a total of $18.6 billion and naming the country as Iran’s most important trade partner.

According to a report by Iran’s state broadcaster, over the past nine months, the United Arab Emirates with $14.9 billion and Turkey with $7 billion were Iran’s other important trading partners, and Iran’s exports to Iraq were reported at $6.8 billion.

Iran’s customs chief did not provide detailed clarification regarding Iran’s foreign trade specifics, particularly regarding the receipt of payments for exported goods. For example, regarding exports to Iraq, Iranian officials have repeatedly reported a $5 to $7 billion debt from that country, stating that the receipt of payments from electricity and gas exports to the country has faced serious difficulties due to sanctions.

Alireza Moqadasi also predicted that given the current trend and a 40 percent increase in exports and 37 percent increase in imports, Iran’s foreign trade volume would reach $98 billion by the end of the current year.

Source: Radio Farda