A recent New York Times article, Iran Admits Western Sanctions Are Inflicting Damage, discussed the rise in trade sanctions on Iran by the United States and European Union. According to the article, the ever-tightening trade noose has caused quite a stifle on Iran’s exports. Iran’s oil industry, for example, produced about 4 million barrels a day in 2010 and now the number is down to 3.5 million.

Not only has Iran’s oil industry suffocated, but the small amount of products the United States receives from the country has become miniscule. Zepol’s TradeView™ data shows that since 2007, total imports from Iran have dropped in value from the $100 millions, to the mere $100 thousands (see graph below). The result is a 99% drop in U.S. imports from Iran.
The products that have seen the steepest dive are prepared vegetables, fruit and nuts, and textile floor-coverings (see graph below). In 2007, U.S. imports of Iran floor-coverings were valued at over $97 million, but as of November, 2011, (year-to-date) the number is down to less than $15 thousand. Worse than that, vegetables, fruits and nuts sunk from $50 million in 2007 to a whopping zero dollars to-date.