Volume of trade between Iran and China grew 24% in 8 months

Almaty. October 24. Silkroadnews - The volume of Iran’s trade with China grew 24% in 8 months, the Iranian Telegraph Agency (IrTAG) reported referring to the Iran Daily newspaper.
“Latest market figures show that trade between Iran and China increased by almost a quarter over the past eight months. … trade between the two countries from January to August 2016 stood at $19.5 billion… while bilateral trade topped $24 billion from January to the end of August this year, showing an increase of 24 percent compared to the figure for last year,” the report said.
At the same time, it is noted that China’s exports to Iran for the same period last year amounted to $10.2 billion versus imports of $9.3 billion. China’s exports to Iran this year reached $12.04 billion, and imports - $12.13 billion, indicating a growth of 18.1% and 30% respectively.
According to the publication, during the first half of 2017, trade between the two countries increased by 31%, reaching $31 billion. During the same period last year, trade volume amounted to $13.7 billion.
Reportedly, crude oil accounted for the bulk of Iran’s exports to China. According to the recent reports, the Islamic Republic of Iran exports 600,000 barrels of oil a day to China. China is Iran’s largest trading partner, exporting a wide range of consumer goods to the country.