China-Iran Trade Report (August 2021)
Total Trade Rises
New data released by the General Administration of Customs of the People’s Republic of China (GACC) for August shows that total bilateral trade between China and Iran reached its highest level since March 2020, with the level of Chinese exports and imports both exceeding $700 million. ___STEADY_PAYWALL___
The increase in total trade can be attributed to a modest rise in Chinese exports to Iran, which rose from $654 million in July to $741 million in August, in part because of an increase in machinery sales (HS Chapter 84). The increase in total trade also reflects a more substantial rise in imports, which rose from $513 million in July to $713 million in August, the highest import total since December 2020. The increase in imports was driven by a rise in Chinese purchases of ores (HS Chapter 26) and iron and steel products (HS Chapter 72).
Indirect imports of Iranian oil rose following July’s decreased purchases attributed. to Malaysia. Total crude oil (HS Chapter 27) imports from Malaysia rose from $1.34 billion to $1.82 billion in August.
