Iran's oil exports reached $35.8 billion in the 12 months to March 2024, customs department head Mohammad Rezvanifar told the Iranian Labor News Agency. Although the United States reimposed sanctions on Iran in 2018, Chinese purchases of Iranian oil helped the country maintain a trade surplus.

Rezvanfar explained that without oil exports, Iran would have faced a trade deficit of $16.8 billion. The total trade volume reached $153 billion, an increase of 2.6 percent year-on-year, $86.8 billion of which were exports from Iran. These figures show that Iran has succeeded in overcoming some of the challenges imposed by US sanctions, thanks to its strong oil exports.

China is the largest buyer of Iranian oil, and plays a major role in supporting the Iranian economy. Iran seeks to increase its oil exports in the future. This will help it strengthen its economy and achieve more stability.