TEHRAN – The value of trade between Iran and China reached $5.23 billion in the first four months of 2023, according to the data released by China’s customs administration.

Based on the released data, the four-month trade between the two countries increased by four percent as the figure was $5.02 billion in the first four months of 2022, IRIB reported.

As reported, Iran’s exports to China in the mentioned four months faced a 39 percent decrease compared to the same period last year and reached $1.52 billion. In the same period last year, China imported $2.49 billion of goods from Iran.

During this period, China's exports to Iran, however, increased by 46 percent and reached $3.71 billion. China exported $2.53 billion worth of commodities to Iran during January -April last year.

According to the data previously released by China’s customs administration, the value of trade between Iran and China increased by seven percent in 2022 compared to the previous year.

Based on China’s customs data, the Islamic Republic and China traded $15.795 billion worth of commodities in 2022, $1.035 billion more than the figure for 2021, IRNA reported.

As reported, China's exports to Iran grew by 14 percent in the period under review compared to the preceding year to reach $9.44 billion. The Asian country exported $8.258 billion worth of goods to Iran in 2021.

The value of Iran’s non-oil exports to China, however, registered a two-percent decrease in 2022, reaching $6.355 billion. Iran exported $6.502 billion worth of goods to China in 2021.

Iran's share of China's total global trade last year was only 0.25 percent. China’s trade with the world reached $6.308 trillion in 2022, of which $3.593 trillion was the share of the country's exports and $2.715 trillion was related to imports. China's global trade grew by 4.4 percent last year.

China is one of Iran’s main trade partners that has maintained strong trade ties with the Islamic Republic despite the strict U.S. sanctions.

Iran and China officially signed the document for 25-year comprehensive cooperation in March 2021.

The document was signed between Iran’s former Foreign Minister Mohammad Javad Zarif and Chinese Foreign Minister Wang Yi at the Iranian Foreign Ministry.

Back in December 2022, Iran and China finalized 16 memorandums of understanding (MOU) under the framework of the two countries’ strategic 25-year agreement.

The MOUs were signed in an Iran-China comprehensive cooperation program summit which was held in Tehran on December 13 in the presence of Iran’s First Vice President Mohammad Mokhber and China’s Vice Premier Hu Chunhua.

The summit was focused on four areas explored by four committees between the two countries with the aim of paving the way for the implementation of the 25-year agreement.

EF/MA