Iran's $1.6b Trade Deficit With Germany

Iran posted a $1.62 billion trade deficit with Germany in the nine months to December 2016. About 818,000 tons of goods worth $1.8 billion were imported from Germany during the period, registering an increase of 90.4% in volume and 38.2% in value.  Intermediate goods made up for 55.1% of overall imports from Germany whereas consumer and capital goods accounted for 22.9% and 22% respectively. Exports from Iran to Germany stood at 25,400 tons worth $179 million during the same period. About 57.7% of the exports to the European country were intermediate goods, 41.4% consumer goods and 0.9% capital goods, Mehr News Agency reported.