The United States has launched a new round of sanctions aimed at cutting Iran off from the global economy. US Treasury Secretary Scott Bessent announced sanctions against nearly 60 entities, individuals and vessels, expanding restrictions to areas including shipping, gold, aviation, technology and digital assets.
The US says the campaign, known as “Operation Economic Outcast,” is intended to sever Iran’s economic lifelines. President Donald Trump is also reportedly contacting world leaders and urging them to reduce or stop economic dealings with Tehran.
According to official 2024 customs data compiled by Trade Data Monitor, Iran exported about $56 billion worth of goods to more than 112 countries. Its biggest export destinations were:
Iran’s Top 5 Trading Partners — Trade Chart Analysis
Based on the figures you provided, the combined trade value is $41.84 billion.
Rank Country Trade Value Share of Top 5 Main Trade Link
1 🇨🇳 China $14.58B 34.9% Oil
2 🇮🇶 Iraq $11.70B 28.0% Gas, electricity, food & goods
3 🇦🇪 UAE $7.16B 17.1% Finance & re-exports.
4 🇹🇷 Türkiye $6.10B 14.6% Gas, petrochemicals & goods.
5 🇦🇫 Afghanistan $2.30B 5.5% Fuel, food & construction.
Total $41.84B 100%
📊 Trade Value Chart
China ██████████████████████████████ $14.58B
Iraq ████████████████████████ $11.70B
UAE ███████████████ $7.16B
Türkiye █████████████ $6.10B
Afghanistan █████ $2.30B
Key Analysis:
China is the dominant partner, accounting for about 34.9% of the combined trade among these five countries. Its importance is particularly tied to Iranian oil exports.
Iraq is a close second, representing 28.0%. The relationship is heavily connected to energy, especially Iranian gas and electricity, as well as food and manufactured products.
China and Iraq together account for about 62.9% of the trade in this five-country group, showing how concentrated Iran's commercial relationships are.
The UAE contributes 17.1%, despite the major disruption to trade relations. Recent reporting says the UAE has suspended trade and financial transactions with Iran indefinitely, potentially removing an important commercial and re-export channel.
Türkiye accounts for 14.6%, with energy playing a major role. Reuters recently described bilateral trade as roughly $5–6 billion annually, broadly consistent with the figure in your dataset.
Afghanistan is the smallest of the five, at 5.5%, but remains strategically important as a nearby market for Iranian fuel, food and construction materials.
Note: The percentages above are calculated only from the $41.84 billion dataset you supplied; they should not be interpreted as each country's share of Iran's total global trade.
Iran imported about $68.5 billion worth of goods in 2024. Its leading import partners were the UAE ($21 billion), China ($17.8 billion), Türkiye ($11.1 billion), the European Union ($6.1 billion), and India ($1.6 billion).
China is particularly important because it remains Iran’s biggest oil customer and a major supplier of machinery, electronics, vehicles and industrial equipment.
The US effort to isolate Iran therefore faces a major challenge: cutting Tehran off completely would require pressure on several of its most important Asian and regional trading partners, especially China, Türkiye and other countries that continue to maintain commercial links with Iran.
Overall conclusion:
The chart shows that Iran's trade is heavily concentrated among a few regional partners, with China and Iraq providing the largest shares. This concentration also creates vulnerability: disruptions involving China, Iraq or the UAE could have a disproportionately large effect on Iran's external trade. Current geopolitical developments are already affecting these relationships, with reports of declining Iranian trade and increasing pressure on countries that continue economic ties with Tehran.
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