Iran-EU Transactions Up 28% YOY

Iran-EU Trade reached €1.99 billion in January 2018

Trade between Iran and member states of the European Union reached €1.99 billion in January 2018, registering a 28% increase compared with the similar period of 2017, according to Eurostat figures shared with the Financial Tribune. Based on the report, Iran’s exports to the EU had a 52% year-on-year rise to stand at more than €1.17 billion. Imports amounted to €816.47 million, showing a 5% rise YOY.  As a result, trade balance between Iran and EU stood close to €356 million in favor of Iran while during the corresponding period of last year, the figure amounted to €7.13 million in favor of EU. Iran’s five biggest export destinations in January 2018 were Italy (€312.8 million), Spain (€240 million), France (€229.77 million), Greece (€157.43 million) and the Netherlands (€81.48 million). The main exporters to Iran from among the 28-member states of EU were Germany (€261.5 million), Italy (€111.43 million), the Netherlands (€99.11 million), France (€75.2 million) and Spain (€47.53 million).