Iran’s Q1 trade with EU tops €1b

Financial Tribune – Iran exported €225.61 million worth of commodities to the EU, indicating a 26.85% rise, and imported €940.43 billion in return to register a 5.08% year-on-year decline

Trade between Iran and EU member states during January-March 2020 stood at €1.16 billion to register a 0.22% 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 €491.18 million, €171.83 million and €128.36 million respectively.

Iran’s trade with Luxembourg (€488,018), Slovakia (€3.32 million) and Bulgaria (€43.7 million) increased by 589.68%, 141.4% and 106.76% respectively year-on-year—the highest among EU states.

Trade with Malta (€1,536 million), Finland (€1.87 million), Ireland (€3.89 million), Sweden (€9.3 million) and Romania (€20.86 million) saw the sharpest declines of 98.8%, 77.12%, 77%, 67.17% and 65.21% respectively.