Official figures released on Sunday have revealed a significant drop in trade between long-time economic partners Iran and China.

Figures released by China�s Customs Department show that the value of trade between the two countries reached around $15 billion over a period of five months starting January 2015.

This indicated a plunge of 34.5 percent compared to the same period last year when the two countries� trade stood at about $23 billion.

Figures show the value of the Chinese exports to Iran over the same period reached $7.7 billion thus marking a decrease of about 15 percent.

This is while imports from Iran stood at $7.1 billion indicating a yet large drop than exports at 47.6 percent.

The figures that have been quoted by Iran�s media further show that the tip in the balance of trade between the two countries has been to China�s benefit by $567 million.

Oil has been cited as the main product that Iran has been exporting to China.

Previously, Iranian officials said the current value of trade with China stands at $52 billion in a year.

Assadollah Asgarowladi, the chairman of Iran-China Joint Chamber of Commerce, told reporters in May that Iran plans to increase the figure to $60 billion in a year, stressing that Iranian private sector companies have a major responsibility to shoulder over this.

By Press TV