TEHRAN - The value of trade between Iran and the U.S. reached $22.4 million in the first five months of 2023, registering a five percent increase, IRNA reported citing the latest statistics released by the American Statistical Association (ASA).

The trade between the two countries was reported to be over $21.2 million in the same period of 2022.

According to the ASA data, the U.S. exported commodities worth $21.9 million to Iran in January-May 2023, up 34 percent year on year. Iran’s export to the U.S. stood at $500,000 during the period under review.

Iran’s export to the U.S. in the first five months of 2023 registered an 89 percent decline compared to the same period in 2022.

The U.S. exported $4.3 million of goods to Iran in May while the imports from the Islamic Republic stood at $0.2 million. In May 2022, America exported $2.7 million worth of goods to Iran and imported $0.1 million of goods from Iran.

The trade between Iran and America is not significant compared to the two countries’ total trade with the world.

Iran was ranked 172nd among the export destinations of the United States in the first four months of 2023, while the country stood at 212th place among the sources of imported goods for the country.

EF/MA