$2.879bn Iran-China trade value in Jan-Feb, 37% higher than 2023
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China's imports from Iran within the first two months of this year witnessed a 20% increase compared to the same period last year.
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A man on a boat fishes as a container vessel prepares to dock at a port in Xiamen in southeast China's Fujian province on December 27, 2023. (AP)
According to a report by IRNA, trade exchanges between Iran and China witnessed a 37 percent increase in the first two months of 2024 compared to a similar period from last year.
IRNA cited Chinese customs data revealing that the value of trade between both countries in January and February this year amounted to $2.879 billion. Last year, the trade value in the same months amounted to $2.098 billion.
It added that in comparison to last year's 1.41 billion dollars worth of goods exported to Iran from China in the first two months of the year, this year's 2.05 billion indicates a 45 percent increase in exports from China to Iran within the same months.
Iranian exports to China have also witnessed a 20% increase, as $829 million of goods were exported compared to last year's $688 million.
According to analysts, the value of China's imports from Iran is predicted to be much higher, as the figures related to the purchase of Iranian oil by Chinese refineries are not included in the official statistics of China's imports from Iran.
In the first two months of this year, the total value of China's foreign trade reached 930 billion dollars, with a growth of 5.5 percent compared to last year, according to Chinese customs data.
China's imports, during this interval, amounted to 402 billion dollars, while it exported 528 billion dollars worth of goods.
Stronger ties on other levels too
Three Iranian domestically produced warships participated in the recent joint naval and airborne exercises with China and Russia, dubbed Security Belt 2024, which took place in the Gulf of Oman and the Indian Ocean between March 11 and 15.
The Commander of the IRGC Navy's Imam Ali Base in Chabahar, Rear Admiral Mohammad Nozari, identified the warships as Shahid Mahmoudi, Shahid Soleimani, and Shahid Abu Mahdi al-Muhandis, in addition to the Tondar-class Shahid Tavassoli frigate and other IRGC naval fast attack boats.
Admiral Nozari revealed that the exercise covered an area of 17 thousand square kilometers and spanned across three of the world's five strategic straits located in the northern Indian Ocean region; a crucial global hub for energy and maritime traffic.
He said the military vessels operated alongside IRGC sea helicopters and marine forces in the war games.
The ships were equipped with locally manufactured advanced munitions and could sail for prolonged periods to carry out long-haul missions.
