Iranian international trade decreases
Iranian-German trading in the first two months of 2019 decreased compared to the last two months of 2018 by 16.6%.
According to the Federal Statistics Office, German-Iranian trade fell by 51% year-on-year to EUR 264 million from January to February 2019.
German exports to Iran amount to almost 223 million euros. This represents a decline of 52% and Iranian exports to Germany amount to 41 million euros, a drop of 42%.
At 88 million euros or 40%, machinery, electrical engineering products and vehicles account for the largest share of German exports to Iran. At 27% and 11% respectively, chemical products and foodstuffs are the second and third most important product groups in the SITC system.The most important Iranian exports to Germany fall under the category of live animals and food as well as beverages and tobacco, which amounts to almost 13 million euros and 31% of its total exports to Germany.
Second place went to raw materials, which contributed 27% or 11 million euros.Moreover, according to Eurostat, trade between the EU and Iran shrank by 38% in January and February 2019 compared to the last two months of 2018. And a comparison of the figures with the same period last year shows that trade between the EU and Iran fell by 80% to EUR 757 million.
The main European supplies to Iran are machinery, electrical equipment and vehicles, followed by chemicals. Iran, on the other hand, supplied mainly chemicals and food products to Europe.