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US exports to Iran up in Obama's first months

Iran spent nearly twice as much on US imports during President Barack Obama's first months in office as it did during the same period in 2008, showing that despite trade penalties and tense relations, the two countries are still doing business.

world Updated: Jun 21, 2009 17:00 IST

Iran spent nearly twice as much on US imports during President Barack Obama's first months in office as it did during the same period in 2008, showing that despite trade penalties and tense relations, the two countries are still doing business.

The US exported USD 96 million in goods to Iran from January to April, according to an Associated Press analysis of
US government trade data compiled by the World Institute for Strategic Economic Research in Holyoke, Massachusetts.

US exports to Iran totaled USD 51 million during the same period in 2008 and USD 27 million over those months in 2007.

Soybeans, wheat and medical supplies -- all considered humanitarian items exempt from US trade sanctions -- are among the top exports this year.

The latest trade figures reflect an increase in Iran's agricultural imports over the past year due to poor harvests
there, said Bill Reinsch, president of the National Foreign Trade Council, a business group in Washington.

"I wouldn't read too much into it as far as trends are concerned," Reinsch said.

Reinsch said he is hearing from more businesses interested in Iran. But beyond an effort by the Obama administration to encourage talks with Iran, he hasn't seen any policy changes that would lead to more opportunities for
US businesses.