China’s General Administration of Customs has declared that the South Asian country’s trade exchanges with Iran experienced 16 percent increase in first four months of the current year (2022), showing the volume of bilateral exchanges exceed more than 5 billion dollars in the same period.
The latest statistics of that country’s General Administration of Customs indicate that the trade volume increased from 4.33 billion dollars in the same period in 2021 to 5.025 billion dollars in four months of January to April in 2022.
China’s import from Iran hiked 25 percent, reaching 2.489 billion dollars in the first four months of the current year, while the South Asian country imported 1.982 billion dollars of commodities from Iran in the same period last year.
It is worth mentioning that oil has been the major imported item from Iran, which experienced an increase in recent months as well.
The value of China’s export to Iran mounted 8 percent from January to April, reaching 2.536 billion dollars, while it stood at 2.348 billion dollars in the same period last year.
China and Iran signed the 25-year strategic cooperation agreement in March 2021 to expand economic, political and technological collaborations.
China’s General Administration of Customs also announced that the country’s total global trade stood at 1975 billion dollars in the first four months of the current year, showing 10 percent increase comparing to the same period last year.
Interestingly, 1004 billon dollars out of the total number allocated to trade exchanges with other Asian countries, which is more than half of foreign trade volume of the country.
China’s trade exchanges with Europe stood at 272 billion dollars, indicating only 9 percent increase in comparison with the same period last year.
Chia-US trade showed 11 percent increase, reaching 245 billion dollars from January to April. China exported 185 billion dollars of goods to the US and imported only 60 billion dollars of commodities from the Western country.