Iran’s trade with US down by half in 5 months

The value of Iran’s trade with the US stood at $20 million during the first five months of 2020, a more than 50 per cent decline, a news report revealed.

The figure registered a 51.1 per cent decline compared with the corresponding period of 2019, Xinhua quoted the Eghtesad Online news as saying on Sunday.

Iran’s imports from the US stood at $17.1 million during the same period.

The Iran-US trade amounted to $74.5 million in 2019 and registered a 84.97 per cent decline compared to the year before.

In 2018, trade between the two countries increased by 155 per cent from 2017.

However, after the reimposition of the US economic and energy sanctions on Iran at the end of 2018, the bilateral trade has fallen drastically.