Iran-China Trade Tops $2.87 Billion in January-February 2024: Report

The value of trade between the two countries in January and February this year amounted to $2.879 billion, according to IRNA which cited the Chinese customs data. 

The trade exchanges between the two countries were valued at $2.098 billion in the first two months of 2023.

It said China exported $2.05 billion worth of goods to Iran in January and February this year, showing a 45 percent hike when compared to the previous year. Beijing exported $1.41 billion worth of goods to Tehran in the first two months of 2023.

With a 20 percent increase, the value of China's imports from Iran in the two months of 2024 reached $829 million. Beijing imported $688 million of commodities from Tehran in the same period the previous year.

Analysts believe that the value of China's imports from Iran is much higher because the figures related to the purchase of Iranian oil by Chinese refineries are not included in the official statistics of the country's imports from Iran.

According to the Chinese customs data, in the first two months of this year, the total value of China's foreign trade reached $930 billion with a growth of 5.5 percent compared to the same period last year.

During this period, China exported $528 billion worth of goods while its imports amounted to $402 billion.