NEW YORK: The U.S. exported over $157.4 million of products to Iran during the first seven months of the current year, a 47% percent rise from $106.7 million in the same period of time in 2014, according to the latest report released by the U.S. Commerce Department.
Also, the report puts Iran as 116th biggest target market of U.S. products in the January-July period of 2015, compared to 138th place in the same period in 2014.
The U.S. had no imports from Iran during the time span, according to the report.
The report further shows that in July 2015, when the nuclear accord between Iran and major world powers was finalized, the U.S. exported $16.9 million of products to Iran, a 9 percent fall year on year. In July 2014, the U.S. exports to Iran totaled $18.7 million.
Trade between the U.S. and Iran saw a 14-percent drop in 2014, amounting to $182.1 million. Iran’s exports to the U.S. stood at zero and $2.2 million in 2014 and 2013, respectively.
On May 23, Head of Iran Chamber of Commerce, Industries, Mines and Agriculture Gholamreza Shafei said the Iranian government has given the green light to private business owners to forge trade ties with their American counterparts.
