The decrease of 21 billion USD in trade between Iran and China over the last three years

Feed: 2730 - Date: 7/24/2017 - Views: 558

Explaining the latest developments in the trade between Iran and China, the Vice president of Iran-China Chamber of Commerce said, "Due to the decrease in the prices of oil and raw materials in the world, the trend of trade between Iran and China has declined for the last three years."

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In an interview with ISNA, Mohammad Reza Hariri stated, "The statistics indicate that the total trade between Iran and China was 52 billion USD in 2014. In 2015, it reached to 34 billion USD and this figure has decreased to 31 billion USD by the end of 2016." 
He added, "The trend has had a fall in terms of value for three years. However, the statistics show that the trend of their mutual trade was growing during the three first months of 2017 compared with the same period last year."
Pointing to the reasons for the decline in the trade between Iran and China during the last three years, the Vice president of Iran-China Chamber of Commerce said, "The increase or decrease in the trade between Iran and China was based on whether the oil price has been increasing or decreasing." 
Hariri added, "Our mutual relations are also affected by the global oil price because most of our exports to China include oil or the items such as gas, petrochemicals, and condensates which are affected by oil price."
He said, "Since our exports to the rest of the world are mainly raw materials the price of which has tended downwards, we have faced a declining trend in the trade in terms of value between Iran and China while there have not been significant changes in terms of weight." 

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