Iran’s Exports to EU Jump 109 Percent

Iran exported more than €8.24 billion worth of commodities to the 28 member states of the European Union during the 10 months to Oct. 31, 2017, indicating a 109% hike compared with the similar period of 2016, according to Eurostat statistics shared with Financial Tribune.

Italy, with more than €2.58 billion worth of purchases, was Iran’s main export destination over the period. The figure shows a 315% hike compared with the corresponding period of 2016.

Following Italy were France with over €2 billion, Spain with €1.15 billion, Greece with €1.05 billion and the Netherlands with €690.7 million worth of imports from Iran, registering a 109%, 85%, 102% and 47% year-on-year growth respectively.

Imports from the EU countries during the same period exceeded €8.4 billion, registering a 32% rise year-on-year.

Germany with more than €2.35 billion was the main European exporter to Iran. The figure experienced a 19.2% rise compared with last year’s similar period.

Other major exporters to Iran include Italy with €1.38 billion, France with €1.17 billion, the Netherlands with €653.6 million and Belgium with €495.2 million worth of exports to Iran, indicating a 14.5%, 119.5%, 10.5% and 33.3% year-on-year growth respectively.

As such, Iran-EU trade over the period amounted to €16.65 billion, registering a 61.6% upsurge compared with the corresponding period of last year.

The Eurostat data show Iran’s main trade partners during Jan.-Oct. 2017 were Italy with more than €3.96 billion worth of exchanges, France with €3.18 billion, Germany with €2.66 billion, Spain with €1.48 billion and the Netherlands with €1.34 billion, registering a 117%, 112%, 20%, 66% and 27% year-on-year rise respectively.