Skip to main content

Trade Between Iran & China Declined Sharply In 2019

CaspianNews.com

By Orkhan Jalilov January 27, 2020

None

Iran exported $13.43 billion worth of commodities to China in 2019, 36.3 percent less than in the previous year. China, in turn, exported $9.59 billion worth of goods to Iran last year, down 31.2 percent. / Persia Digest

Last year, Iran’s trade with its biggest trading partner, China has been declined by 34.3 percent compared to the previous year, and amounted to $23.02 billion, according to the data compiled by the Chinese General Administration of Customs. 

Iran exported $13.43 billion worth of commodities to China during the period under review, 36.3 percent less than in the previous year. China, in turn, exported $9.59 billion worth of goods to Iran last year, down 31.2 percent. 

Meanwhile, China has remained Iran's biggest trade partner, but Iran's share in Chinese international trade is much less significant and makes up 0.5 percent of the country's total foreign trade. China's foreign trade in 2019 amounted to $4.576 trillion, of which trade with the United States and the European Union stood at 12  percent and 16 percent, respectively, according to the Chinese Customs statistics.

Before Washington's withdrawal from the Joint Comprehensive Plan of Action, known commonly as the Iran nuclear deal in May 2018, and the re-imposition of the U.S. sanctions on Tehran, China was the biggest buyer of Iranian crude oil. Currently, Iran can only export between 250-300,000 barrels of crude oil per day, of which 250,000 barrels are exported to China. At the same time, China Petrochemical Corp (Sinopec) and China National Petroleum Corp (CNPC) are still engaged in the development of Iran's super-giant Azadegan and Yadavaran oil fields in the oil-rich southwestern Khuzestan Province. The Chinese companies are developing the Iranian fields after Japanese and European companies pulled out of the projects due to the sanctions.

With an aim to build strategic mutual trust and inspired by the Chinese ambitious Belt and Road Initiative, Iran and China have jointly worked on a guideline for future cooperation.

In addition, the two countries remain strong partners in the realm of the military as well. China and Iran signed an agreement in 2016 to bolster defence and military cooperation and fight terrorism. In December 2019, four days of naval exercises between China, Iran and Russia, covering 6,564 square miles (17,000 sq km), were held in the Indian Ocean and Gulf of Oman.

China was among the top three arms transfer partners for Iran, exporting $269 million worth of weapons in the period between 2008 and 2018, according to South China Morning Post.

China not only sold Iran small arms but supplied it with tactical ballistic and anti-ship cruise missiles such as the Silkworm. Chinese design and technology can be seen in many Iranian missile series, ranging from the short-range Oghab and Nazeat missiles to the long-range Shahab.

Comments

Popular posts from this blog

SSG Commando Muddassir Iqbal of Pakistan Army

“ Commando Muddassir Iqbal was part of the team who conducted Army Public School operation on 16 December 2014. In this video he reveals that he along with other commandos was ordered to kill the innocent children inside school, when asked why should they kill children after killing all the terrorist he was told that it would be a chance to defame Taliban and get nation on the side. He and all other commandos killed children and later Taliban was blamed. Muddassir Iqbal has deserted the military and now he is  with mujahedeen somewhere in AF PAK border area” For authenticity of  this tape journalists can easy reach to his home town to interview his family members or   ISPR as he reveals his army service number” Asalam o Alaikum: My name is Muddassir Iqbal. My father’s name is Naimat Ali. I belong to Sialkot divison (Punjab province), my village is Shamsher Poor and district, tehsil and post office  Narowal. Unfortunately I was working in Pakistan army. I feel embarrassed to tell yo

CPEC Jobs in Pakistan, salary details

JOBS...نوکریاں چائنہ کمپنی میں Please help the deserving persons... Salary: Salary package in China–Pakistan Economic Corridor (CPEC) in these 300,000 jobs shall be on daily wages. The details of the daily wages are as follows; Welder: Rs. 1,700 daily Heavy Duty Driver: Rs. 1,700 daily Mason: Rs. 1,500 daily Helper: Rs. 850 daily Electrician: Rs. 1,700 daily Surveyor: Rs. 2,500 daily Security Guard: Rs. 1,600 daily Bulldozer operator: Rs. 2,200 daily Concrete mixer machine operator: Rs. 2,000 daily Roller operator: Rs. 2,000 daily Steel fixer: Rs. 2,200 daily Iron Shuttering fixer: Rs. 1,800 daily Account clerk: Rs. 2,200 daily Carpenter: Rs. 1,700 daily Light duty driver: Rs. 1,700 daily Labour: Rs. 900 daily Para Engine mechanic: Rs. 1,700 daily Pipe fitter: Rs. 1,700 daily Storekeeper: Rs. 1,700 daily Office boy: Rs. 1,200 daily Excavator operator: Rs. 2,200 daily Shovel operator: Rs. 2,200 daily Computer operator: Rs. 2,200 daily Security Supervisor: Rs.

RWR Advisory: Belt and Road at a Glance

This edition covers developments from March 12 - March 26..  Belt and Road at a Glance   Subscribe to the Belt and Road Monitor Top Developments China National Machinery Industry Corporation, commonly known as Sinomach, has agreed to  build  a $845 million, 255-mile railway across  Iran , building upon a sustained period of growth for Chinese investment in Iran that accelerated after Xi Jinping’s state visit to the country in January 2016. The railway will link the cities of Tehran, Hamedan and Sanandaj. China Civil Engineering Construction, a subsidiary of CRCC, is currently also  building  a 263-km railway line from Kermanshah to Khosravi. According to Chinese entrepreneur Lin Zuoru, who  owns  factories in Iran, “Iran is at the center of everything.”On March 23, China’s Ministry of Commerce announced that foreign direct investment by Chinese companies in 50 Belt and Road countries fell by 30.9% year-on-year. While the Ministry stated that this number covers investment across al