42341
Germany’s  Q1 Iran Exports Up 7%
Economy, Domestic Economy

Germany’s Q1 Iran Exports Up 7%

German exports to Iran, especially of machines and equipment, rose significantly in the first quarter following the removal of western sanctions against the Middle Eastern country. Exports to Iran surged 7% year-on-year during January-March to €500 million (about $559 million), according to German Federal Statistics Office. This compares with a 0.7% rise in overall, year-on-year German exports in the same period, Reuters reported. “This is quite reasonable,” said Michael Tockuss, head of the German-Iranian Chamber of Commerce. “Machines and equipment are doing exceptionally well, but also grain and wheat.” For decades before sanctions were imposed, Germany was Iran’s biggest trading partner. The gap in Iranian imports from Germany and other western countries was subsequently filled by Chinese, South Korean and Middle Eastern competitors. Tockuss said German exports to Iran could reach €2.5-3 billion € this year, up from €2 billion in 2015. Germany’s Chambers of Commerce and Industry expects exports to Iran to reach €5 billion in the coming years and reach twice that figure in the long run.

Short URL : http://goo.gl/nrdTxs
  1. http://goo.gl/VVrAZa
  • http://goo.gl/iA8jA5
  • http://goo.gl/fSRmcH
  • http://goo.gl/uvon41
  • http://goo.gl/Z6jSsO

You can also read ...

Pretoria Hosts South Africa-Iran Business Forum (Photo: AfricaNewsAgency)
The South Africa-Iran Business Forum was held in Pretoria,...
485,000 New Jobs Averaged Annually Since 2013
An average of 485,000 jobs were created every year during...
Furniture Exports on Decline
Iran exported about $6 million worth of furniture during the...
About 1,837 million shares valued at $86.508 million changed hands at TSE on Oct. 23.
Tehran Stock Exchange’s main index lost 134.00 points or 0.15...
The health deal was signed in Iran’s Embassy in London on Oct. 23.
Iran’s Ministry of Health signed an investment and cooperation...
Renault Launches Used-Car Sales Scheme in Iran
Negin Khodro, the local official importer of Renault cars, has...
The fiscal 2014-15 was the worst year for the construction sector in recent memory, with growth rate reaching its nadir at -17%.
The research arm of the Iranian Parliament has forecast a...
Over 14.88 billion shares valued at $1.11 billion were traded at TSE over the past month.
Tehran Stock Exchange’s main index TEDPIX gained 648 points or...

Trending

Googleplus