Financial Tribune- Iran exported more than €114 million worth of commodities to Austria during the 11 months to Nov. 30, 2017, indicating a 120% hike compared with the corresponding period of last year.

Imports from the European country into Iran amounted to €276.96 million during the same period, showing a 15% increase YOY, the latest Eurostat figures shared with Financial Tribune show.

As such, Iran-Austria trade stood at over €391.6 million to register a 34% rise compared with the similar period of last year. Austria’s Oberbank signed a finance deal worth €1 billion with 14 Iranian banks in September to fund Austrian development of civil and production projects in Iran.

The contract was signed during the Iranian delegation’s visit to Austria headed by Ahmad Araqchi, CBI’s deputy for foreign exchange affairs, and Mohammad Khazaei, deputy minister of economy.