Iran-Denmark Trade Tops 11% in 2017
Economy, Business And Markets
Monday, February 26, 2018

Iran-Denmark Trade Tops 11% in 2017

Iran exported close to €10 million worth of commodities to Denmark in 2017, indicating a 37.7% rise compared with the previous year.
Imports of Iran from the European country last year amounted to €250 million, showing an 11% increase year-on-year, based on the latest Eurostat figures shared with Financial Tribune.
Iran-Denmark trade in 2017 stood at about €260 million, registering an 11.84% rise compared with 2016. This makes Denmark the 11th biggest trade partner of Iran from among the 28 member states of the European Union over the period after Italy, France, Germany, Spain, the Netherlands, Greece, Belgium, Romania, Sweden and Austria.
Denmark’s Danske Bank signed a €500 million finance contract with 10 Iranian banks on Sept. 21 to become the second European lender to sign such an agreement with Iran after Austria’s Oberbank following the removal of nuclear sanctions.
Denmark’s former foreign minister and deputy prime minister, Kristian Jensen, led an economic delegation to Tehran a few days before the implementation of the nuclear deal in January 2016.
“There can be no doubt that Iran is the ‘next big thing’ and with the lifting of sanctions and the reopening of the Iranian market, there is a big potential for Danish companies that have the capacity to engage in the Iranian market,” Jensen said in a statement.
Denmark’s Novo Nordisk, the world’s biggest producer of insulin, is investing $78 million to establish a factory in Iran for producing insulin and other diabetes-related drugs.


To continue reading this article log in to your account, or join us now and get a free trial which includes access to this specific story.

You will not be charged for your trial and there is no obligation to purchase.

Create an account or sign in

Short URL : https://goo.gl/nf7X7L
  1. https://goo.gl/2MvVYW
  • https://goo.gl/SXbUpA
  • https://goo.gl/J1Hjy3
  • https://goo.gl/i9J7c9
  • https://goo.gl/RQVWmB

You can also read ...

How China Became Iran’s Coziest Trade Partner?
From bilateral trade to finance contracts and civil projects,...
The economy of the Islamic Republic of Iran has been tied to political and foreign affairs developments over the years.
This is the Financial Tribune’s last edition of the current...
Iranian Banking Sector Awaits Full JCPOA Benefits
Iran’s Deputy Foreign Minister Abbas Araqchi addressed various...
President Hassan Rouhani on Sunday spoke to reporters after the last Cabinet meeting of the current year.
President Hassan Rouhani on Sunday outlined his administration...
Iran has more than 37 billion tons of proven mineral reserves and 57 billion tons of potential reserves.
Iran exported more than 58.09 million tons of mineral products...
All-Out Growth in Interbank Market
The Central Bank of Iran has released its latest data on the...

Add new comment