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China is the biggest trading partner of Iran in Asia

in MIDLE EAST by

Chairman of Iran-China Joint Chamber of Commerce Asadollah Asgaroladi said China is now the biggest trading partner of the Islamic Republic in Asia. Asgaroladi hailed the recent rise in Iranian exports to China. He added that currently, Iran is the top exporter of goods to China among Middle Eastern countries. The official described the past Iranian year (which ended on March 20) as “a good year for the country’s exports”. He also predicted that in the current year, the volume of exports would increase by 5 to 7 percent compared to the last year. China has imported $18.579 billion worth of goods from Iran in 2017, around 25 percent higher than 2016. 

Back in January 2016, Iranian President Hassan Rouhani held talks with his Chinese counterpart Xi Jinping in Tehran and said, “We predict that the value of economic exchanges between Tehran and Beijing would rise to $600 billion within the next 10 years”. 

Central Bank of Tunisia:the trade deficit widens to historical highest level

in AFRICA/PRESS RELEASE/REGIONS by

The trade deficit widened, at the end of the 11 months of 2017, to reach a historical highest level, 14,362MDT against 11,628MDT, a year before, said the Central Bank of Tunisia (BCT), Thursday, in a note of economic conjuncture. Total imports increased at a faster pace than exports, at 19.2% and 17.3%, respectively, resulting in a deterioration in the coverage rate (68.3 percentage points against 69.4 percentage points) by the end of November 2016).”The record trade deficit bears the mark, essentially, the maintenance of deficits in the energy balance and that of the food balance at high levels. The BCT reported, in this context, a good performance of exports of the sector of mechanical and electrical industries which seems to benefit from the recovery of demand of Euro zone, Tunisia’s main trading partner. On the other hand, the underperformance of the mining, phosphates and derivatives sector continued with sales falling by 3% at the end of November 2017 against a technical rebound (+ 42.3%) over the same period of 2016, and despite the resumption of production in the mining basin.

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