Iran-EU trade tumbles 75%

Financial Tribune – Iran exported €452.65 million worth of commodities to the European Union, indicating a 93.67% fall, and imported €2.55 billion in return to register a 52.13% year-on-year decline

Trade between Iran and European Union member states during the first seven months of 2019 stood at €3.01 billion to show a 75.89% plunge compared with last year’s corresponding period, latest statistics provided by the European Statistical Office show.

Germany, Italy and the Netherlands were Iran’s top three trading partners in the European bloc with bilateral exchanges standing at €933.66 million, €548.15 million and €286.16 million respectively.

Iran’s trade with Cyprus (€4.32 million) and Bulgaria (€51.38 million) increased by 66.94% and 50.82% respectively year-on-year, marking the highest increase among EU states.

Trade with Greece (€27.87 million), Spain (€163.17 million), France (€233.8 million), Luxembourg (€363,310) and Sweden (€45.33 million) saw the sharpest declines of 97.35%, 91.16%, 88.18%, 87.85% and 83.23% respectively.