The value of trade between Iran and the U.S. fell to $74.5 million in 2019, 85 percent less than the figure for the previous year, Tasnim news agency reported on Saturday citing the latest statistics released by the American Statistical Association (ASA).
The trade between the two nations had reached $495.7 million in 2018, rising from $199 million in 2017.
The figure stood at $258 million in 2016.
In 2019, Iran imported $73.1 million worth of commodities from the U.S., a decrease of 83 percent from $425.8 million in 2018.
The country exported $1.4 million of goods to the U.S. in the past year, with a 98-percent fall from $69.9 million in its preceding year.
Iran was ranked 165th among U.S. export destinations in 2019 and 212th among the country’s top import sources.
In 2018, the value of trade between the two countries increased by 155 percent compared to 2017, since the re-imposition of the U.S. sanctions on Iran, however, it has been falling drastically.