Iran-EU transactions up 9%

Financial Tribune – Iran exported €165.5 million worth of commodities to the EU during the period to register a 43.68% rise and imported €622 million in return to register a 2.61% year-on-year increase

Trade between Iran and EU member states during January-February stood at €787.66 million to register a 9.17% increase compared with the similar period of 2019, 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 during the period under review with bilateral exchanges standing at €307.04 million, €121.82 million and €90.2 million respectively.

Iran’s transactions with Luxembourg (€426,596), Slovakia (€2.85 million) and Croatia (€1.03 million) increased by 542.34%, 291.45% and 183.83% respectively year-on-year, marking the highest among EU states.

Trade with Malta (€1,536), Ireland (€2.64 million), Sweden (€5.94 million), Greece (€2.49 million) and Finland (€1.68 million) saw the sharpest declines of 88.86%, 82.9%, 75.51%, 68.63% and 65.2% respectively.

The United Kingdom officially withdrew from the European Union on January 31. The UK’s withdrawal, known as Brexit