Iran-EU trade plunges 73%

Financial Tribune – Iran exported €648.32 million worth of commodities to the EU, indicating a 93.06% fall, and imported €4.08 billion in return to register a 51.82% year-on-year decline

Trade between Iran and EU member states during the first 11 months of 2019 stood at €4.73 billion to register a 73.45% plunge compared with last year’s corresponding period, latest data released 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 €1.52 billion, €889.15 million and €468.13 million respectively.

Iran’s trade with Cyprus (€7.62 million) and Bulgaria (€86.88 million) increased by 65.18% and 34.67% respectively year-on-year—the highest among EU states.