Thursday, December 8, 2022

China reports 25% growth in imports from Iran in early months of 2022

China says its imports from Iran rose by 25 percent in the first four months of 2022, compared to the similar period last year, as the two strategic partners speed up economic cooperation.

According to figures released by the Chinese customs authority, Beijing-Tehran overall trade saw a 16-percent rise in the first four months of this year, compared to the similar time span in 2021, surpassing $5 billion in value.

China’s imports from Iran recorded a 25-percent growth, with a value of over $2.4 billion from January to April, while the value of its exports to the Islamic Republic hit more than $2.5 billion, up by 8 percent, compared to the first quarter of 2021.

Crude oil constitutes a significant part of China’s purchases from Iran.

Iran and China have signed a 25-year strategic cooperation agreement, which is said to be worth $400 billion, with the goal of strengthening economic and political cooperation between the two sides, in defiance of US economic sanctions.

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