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Iran-U.S. trade reaches $177m in 9 months

Iran-U.S. trade reaches $177m in 9 months

According to the latest data released by the American Statistical Association (ASA), the value of trade between Iran and the U.S. stood at $177 million during the first nine months of 2016.

The figure shows five percent drop from $185.3 million in the same period of time in 2015.
Of the $177 million worth of bilateral trade, $114.9 million was related to the U.S. exports to Iran, with 38 percent fall from $185.3 during January-September of the past year.
Iran’s exports to the U.S. stood at $62.1 million during the nine-month period this year. The country had no export to the U.S. in the same time span of 2015.
Also, the U.S. worth of exports to Iran in this September stood at $6.4 million, falling from $14.4 million in the last September. The country’s value of imports from Iran was $3.7 million in September 2016, while it had no export to the Islamic Republic in the ninth month of the previous year.
After the implementation of Iran’s nuclear deal, officially called the Joint Comprehensive Plan of Action (JCPOA) in January, the U.S. government lifted bans on imports of some commodities including carpet, saffron, pistachio and caviar from Iran.