According to the latest report released on Sunday by the United States Department of Commerce, the value of trade exchanges between the US and Iran from January to May 2023 reached $22.4 billion that shows 5 percent growth as compared to the corresponding period the year before although the figure is negligible as compared to the total trade exchanges of the two countries with the world.

US export to Iran during the first five months of 2023 reached $21.9 million which shows a 34% YOY increase, while Iran’s exports to the US during the mentioned period reached % 0.5 million indicating an 89% YOY decrease.

Iran ranked 175th among US target export markets in the said period, the report noted.