US Exports to Iran Up by 85% in October: Report
TEHRAN (Tasnim) – Iran’s imports from the US increased by 85 percent in October compared to the same month last year, the US Department of Commerce announced.
The value of US exports to the Islamic Republic reached $28.7 million in October, while Iranian exports to the US fell to zero in the same month, the US Department of Commerce said in its latest report.
Iran’s imports from the US in October witnessed an 85 percent rise compared to the same month in 2014, when the value of imports amounted to $15.5 million, according to the report.
The data also showed that in the first 10 months of the current year US exports to the country reached $213.6 million, indicating a 40 percent rise compared to the same period last year.
Meanwhile, Iran’s ranking in the list of US’s top export destinations has improved from 136 in the first 10 months of 2014 to 117 in the same period in 2015.
While Iran-US trade has fallen remarkably in recent years in the wake of Western sanctions imposed on Tehran over its peaceful nuclear program, hopes are high that a comprehensive nuclear deal, whose text was finalized on July 14 between Iran and world powers, would improve Iran’s trade with the West, including the US.
Dubbed the Joint Comprehensive Plan of Action (JCPOA), the deal between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) would subject the parties to comply with a series of commitments, resulting in the termination of sanctions on Iran in exchange for certain restrictions on Tehran’s nuclear program during a defined period of time.