TEHRAN: Iran non oil exports to China saw a 27.1% rise in value and a 27.7% increase in weight in the 11 months of 2017 compared with the same period of last year, Iran’s commercial attaché to China said.
Seyyed Reza Seyyed Aqazadeh added that trade balance between the two countries during the period stood at $400 million in favor of Iran. Seyyed Aqazadeh did not mention the value and volume of bilateral trade. However, the latest data published by ISNA show Iran exported $13.88 billion worth of commodities to China during the nine months to Sept. 30. A total of $27 billion worth of goods were exchanged between the two countries during the period. With $8.74 billion, oil comprised the lion’s share of Iran’s exports to China, which imports 633,000 barrels of crude from Iran daily and is Iran’s biggest oil customer.
Mineral products constitute a major part of Iran’s non-oil exports to China. Latest statistics released by Iranian Mines and Mining Industries Development Renovation Organization show Iranian miners exported 12.44 million tons of mineral products worth $1.08 billion to China during the first seven months of the current fiscal year (March 21-Oct. 22). Iron ore was the main exported commodity in the seven-month period, standing at 10.47 million tons valued at $584.25 million. “Iran is currently the seventh largest iron ore supplier to China—a three-step drop compared to its 2013 heyday,” a member of the board and the head of international affairs at Iranian Iron Ore Producers and Exporters Association, Keyvan Jafari Tehrani, said.
Tehrani noted that Iran’s share of Chinese iron ore imports stood at 2.3-2.5% in 2013 while it exported 23.5 million tons, over 90% of which went to China.
