Iran-Slovakia Trade Down 16%

Trade between Iran and Slovakia stood at €24.97 million in 2017, registering close to a 16% decline compared with 2016. 
Iran’s trade with Slovakia experienced the fifth biggest year-on-year contraction from among the 28-member states of the European Union after Estonia (-59.53% decline), Lithuania (-44%), Hungary (-33.75%) and Malta (-28.2%). Iran exported close to €7.9 million worth of commodities to Slovakia last year, indicating a 19% decline compared with the previous year, based on the latest Eurostat figures shared with Financial Tribune.
Iran’s imports from the European country amounted to close to €17.11 million, showing a 14.45% decline year-on-year. Slovakia’s economic and business sectors are thriving, thanks to the generally positive development of its main trading partners. Economic growth has exceeded 3% and unemployment rates are hitting historical lows, Spectator.sme reported late last year.