US exports to Iran plunge by 50%
Sat, 20 Feb 2010 11:13:07 GMT
US exports to Iran have plunged by 50 percent after President Barack Obama took office in 2009, a report by US Census Bureau shows.
The figures indicate total US exports to Iran stood at $281.8 million in 2009 from $683.2 million in 2008.
Iran exported $66.7 million of goods to the United States in 2009, which was down from $104.1 million at the end of 2008.
This is while, US exports to Iran increased more than tenfold during George W. Bush's term as president.
US exports to Iran increased from $8.3 million in 2001, Bush's first year in office, to $683.2 million in 2008.
During Bush's term, cigarettes, worth $158 million, were the chief US exports to Iran. Georgia was the top state shipping goods to the Islamic Republic. The southeastern state exported $201 million orth of goods to Iran, $154 million of which were cigarettes.
Other top US exports to Iran during Bush's term included vaccines, serums and blood products, $73 million; corn, $68 million; chemical wood pulp, soda or sulphate, $64 million; soybeans, $43 million; and medical equipment, $27 million, according to the AP's analysis of government trade data compiled by the World Institute for Strategic Economic Research in Holyoke, Mass.