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Significant decrease in trade exchange between Iran and five countries

Category: Economy

Date: 2020-09-11T06:06:34+0000
Significant decrease in trade exchange between Iran and five countries

Shafaq News / New data issued by Iran's trading partners showed a significant decrease in Iranian imports, as well as countries' exports to Iran, these countries are India, China, Japan, South Korea and Turkey.

The data shows:

ü  India

The Indian Ministry of Finance reported data published by the Radio Farda website, stating:

·        India imported $ 3.2 billion in products from Iran in the first seven months of 2019, with that number dropping to $ 140 million in the same period in 2020.

·        23 times decrease in India's imports from Iran in the first seven months of 2020.

·        The country's exports to Iran also decreased by 45 percent, to $ 1.575 billion. (India's exports to Iran are usually 11 times more than its imports from the Islamic Republic.)

·        India's imports nearly halved to $ 88 billion in the first seven months of 2020

 

It’s noteworthy that India - the former largest customer of Iranian oil after China - has not purchased any crude oil from Iran since the second half of 2019.

The decline in Iran's total exports to $ 140 million in the first seven months of 2020 shows that in addition to stopping oil exports, sales of Iranian non-oil goods to India also fell sharply.

ü  Turkey

·        A decline in Iran's exports to Turkey from $ 3 billion to $ 580 million

·         Iran's imports decreased by 31 percent to $ 1.12 billion

 

ü  South Korea

·        Iran's exports fell from $ 2.1 billion to less than $ 7 million

·        Imports decrease from $ 282 million to $ 105 million

 

 

ü  Japan

·        The decline in Iran's exports from about $ 1.2 billion to $ 22 million

·        imports increased by 32 percent to $ 45 million.


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