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Iran-Austria Trade Surpasses $400m
Economy, Domestic Economy

Iran-Austria Trade Surpasses $400m

Iran’s trade with Austria stood at $404 million in 2016, Behrouz Hassan Olfat, director of Europe and Americas Department at the Trade Promotion Organization of Iran, announced.

According to the Islamic Republic of Iran Customs Administration, trade between the two countries dropped from $818 million in the fiscal 2011-2 to $312 million in 2014-15 due to international sanctions imposed on Iran over its nuclear program.

Figures show trade during the four years and four months to July 22, 2015, totaled $2.2 billion, 98.2% of which pertain to Iran’s imports from Austria.

Among the major Iranian products exported to the European country are agro products, herbal medicine, handmade carpets and rugs.

Iran mainly imports industrial, electrical and computer equipment, home appliances, receivers and transmitters, rail equipment, chemicals and medical equipment from Austria.

 

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