Iran’s Exports to EU Up 5% in Q1 2018
EU-Iran Foreign Trade in the first quarter of the year 2018 reached 5.303 Billion Euro. The 28 EU countries exported goods worth $2,390 mn to Iran and imported goods worth $2,913 mn.
EU-Iran Foreign Trade in the first quarter of the year 2018 reached 5.303 Billion Euro. The 28 EU countries exported goods worth $2,390 mn to Iran and imported goods worth $2,913 mn. As a result, trade balance between Iran and EU stood at €523 million in favor of Iran. Italy was the most important EU- trade partner of Iran, with a trading volume of 1,226 million Euro, followed by France (801 mn Euro) and Germany (791 mn Euro).
From January to March 2018 the European Union (EU28) export of goods to Iran stood at €2390 mn, a decrease of 6% compared with the first quarter of 2017. According to the latest (preliminary) data by Eurostat, the statistical office of the European Union, 29% of the EU-exports to Iran came from Germany, which delivered goods worth € 696 mn, that was 1% less than in the first three months of 2017. Second (17%) was Italy with exports worth € 408 mn (-2%), followed by France (€ 248 mn, -46%) and the Netherlands (€ 211 mn, +42%).
In the first quarter of 2018 the 28 EU countries imported goods worth € 2,913 mn from Iran, (an increase of 5% compared with the first three months of 2017). With the removal of most of the sanctions at the end of January 2016, Iran again started the export of oil to Europe. That is the reason for the high growth rates in Iranian exports to some EU countries. Major Iranian exports to the European Union go to Italy, which imported goods worth € 818 mn from Iran (+1%), Spain (€ 578 mn, +75%), France (€ 553 mn, -10%), Greece (€ 549 mn, +71%) and the Netherlands (€ 114 mn, -68%). Germany holds place six with imports worth 95 million Euro (-9%).