2/8/2018 12:00:00 AM - 11:34 Code: 717 Print

Iran exports to China rise 25 pct in 2017

Iran exports to China rise 25 pct in 2017
Iran’s exports to its top trading partner China in 2017 witnessed a 25.2% rise compared to 2016 to reach $18.58 billion, an official with the Trade Promotion Organization of Iran said.

Isna News Agency

“Iran’s major commodities exported to China last year included crude oil, polyethylene, methanol, sulfur, styrene, iron ore, copper ore, purified copper, chromite, lead ore, zinc ore, marble and travertine,” TPO’s website also quoted Hossein Roostaei as saying.

China is also the biggest exporter to Iran. The latest Islamic Republic of Iran Customs Administration’s statistics show China exported 3.8 million tons of commodities to Iran worth $10.22 billion in the first 10 months of the current fiscal year (March 21, 2017-Jan. 20). Imports from China saw a rise of more than 5% in weight and 21% in value in the 10-month period, Financial Tribune reported.

Iran’s trade with China saw a 70% growth under the first presidential term of Hassan Rouhani.

During a trip to Iran after the 2015 nuclear deal was signed, Chinese President Xi Jinping agreed on a wide-ranging, 25-year plan to increase bilateral trade with Iran by over tenfold to $600 billion in the next decade.

Iranian became the sixth largest supplier of iron ore to China by shipping about 22 million tons to the world’s largest importer of the mineral in 2017.