Iran-EU trade plunges 74%

Financial Tribune – Trade between Iran and EU member states during the first 10 months of 2019 (January-October) stood at €4.31 billion to register a 74.83% decline compared with last year’s corresponding period, latest data 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 €1.37 billion, €817.56 million and €422.86 million respectively.

Iran’s trade with Cyprus (€6.48 million) and Bulgaria (€77.68 million) increased by 77.71% and 34.1% respectively year-on-year—the highest among EU states.

Trade with Greece (€34.73 million), Spain (€237.74), Luxembourg (€623,514), France (€329.53 million) and Finland (€20.89 million) saw the sharpest declines of 97.08%, 90.68%, 90.48%, 85.99% and 84.18% respectively.

Eurostat is a directorate of European Commission located in Luxembourg. Its main responsibilities are to provide statistical information to EU institutions and promote the harmonization of statistical methods across its member states and candidates for accession.

Organizations in different countries that cooperate with Eurostat are grouped under the European Statistical System.