Iran’s non-oil exports to Europe’s big four rise above $300m

Financial Times – Iran traded 280,514 tons of non-oil commodities worth $311.39 million with the Big Four of Europe in the first Iranian month (March 21-April 20) to register a 6.51% rise in tonnage and 16.82% decline in value compared with last year’s corresponding month.

Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s exports totaled 56,685 tons worth $28.3 million during the month, indicating a 197.57% and 6.31% increase in tonnage and value respectively year-on-year.

Imports stood at 223,856 tons worth $283.08 million, down 8.38% and 18.59% in tonnage and value respectively YOY.

As a result, Iran recorded a non-oil trade deficit of $254.77 million with the Big Four.

The Big Four of Europe, also known as EU4, refers to France, Germany, Italy and the United Kingdom. These countries are considered major West European powers individually represented as full members of G7, G8, G-10 and G20.