Iran and the European Union’s 27 member states traded €1.67 billion worth of goods in the first four months of 2022, registering a 15.3% growth compared with last year's corresponding period.
Data released by Eurostat's database show Germany was the top trading partner of Iran in the EU during the period, as the two countries exchanged €639.78 million worth of goods, 9.58% higher than the year before.
Italy came next with €203.07 million worth of trade with Iran. A year-on-year comparison of trade volume indicates a 0.36% growth.
The Netherlands with €133.4 million (down 18.9%) and Spain with €120.22 million (up 37.12%) were Iran's other major European trade partners.
Croatia registered the highest growth of 62% in trade with Iran during the period under review and was followed by Romania with 48.19%.
Bilateral trade declined by 5.14% in April to hit €342.65 million.
Germany with €134.42 million, Italy with €48.24 million, the Netherlands with €24.78 million, Spain with €21.4 million and France with €16.77 were Iran’s top trading partners in April.
A directorate of the European Commission located in Luxembourg, Eurostat’s main responsibilities are to provide statistical information to EU institutions and promote the harmonization of statistical methods across its member states and candidates for accession.
Germany was the top trading partner of Iran in the EU during the period, as the two countries exchanged €639.78 million worth of goods, 9.58% higher than the year before
Organizations in different countries that cooperate with Eurostat are summarized under the concept of European Statistical System.
Iran exported €361.69 million worth of commodities to EU during the four months, indicating a 37.53% growth year-on-year.
Germany with €109.03 million, Italy with €55 million, Spain with €47.87 million, Romania with €28.81 million and the Netherlands with €23.95 million were Iran’s main export destinations.
Iran exported €86.68 million worth of goods to EU partners in April, up 33.57% YOY.
The main export destinations included Germany (€20.42 million), Italy (€12.81 million), Spain (€12.4 million), Romania (€9.67 million) and the Netherlands (€5.47 million).
Iran’s imports from the EU member states during the four-month period grew by 10.37% YOY to €1.31 billion. Germany accounted for the largest share of exports with €530.75 million, up 8.43% YOY, followed by Italy (€148.06 million), the Netherlands (€110.03 million) and Spain (€72.36 million).
Imports from the EU declined by 13.62% YOY to €255.98 million in April.
Iran and the European states traded €4.86 billion worth of goods in 2021, registering a 9.09% growth compared with the year before.
The country exported €922.04 million worth of commodities to EU during the period, indicating a 29.32% growth year-on-year. Its imports from the EU member states grew by 5.24% YOY to €3.94 billion.
Trade between Iran and EU member states stood at €4.24 billion in 2020 to register a 13.35% decline compared with €4.89 billion in 2019.
Iran exported €618.03 million worth of commodities to EU last year, indicating a 7.18% fall compared with €665.8 million in 2019. Its imports from EU dropped by 14.32% to reach €3.62 billion.
Trade between Iran and EU gained momentum after Tehran signed the nuclear deal with six world powers in 2015. The deal, formally known as the Joint Comprehensive Plan of Action, saw years of international sanctions against the Islamic Republic lifted. In exchange, the country agreed to limit the scope of its nuclear program. JCPOA was implemented in 2016.
However, in 2018, Washington unilaterally quit JCPOA that it had signed with five other countries and Iran. The US then reimposed sanctions against Tehran, leading to a decline in Iran’s foreign trade, including with the EU.
