EU-Iran trade up 43% in H1: Eurostat

August 31, 2016 - 18:44

TEHRAN - The European Union’s trade with Iran amounted to €5.107 billion in the first half of 2016, a 43 percent rise year on year, based on the latest figures released by the European Union's statistics agency Eurostat.

Following the implementation of the nuclear deal in January and thanks to the rise in EU countries’ purchase of oil from the Islamic Republic, trade between Iran and the EU rose 43 percent compared with €3.563 billion in first six months of 2015. 

From January to June 2016, EU’s exports to Iran increased by 13 percent and reached €3.565 billion, from €3.154 billion in the first half of 2015. 

As reported in late May, EU’s exports to Iran hit €1.602 billion in the first three months of the current year, which shows a 16-percent rise from €1.374 billion in the same period last year.

At the same time, EU’s imports from the Islamic Republic increased 52 percent and stood at €396 million, while the amount was €260 million in the same period in 2015.

In mid-April, Iran and the EU issued a joint statement in Tehran setting the road map for cooperation. The statement was released by Iranian Foreign Minister Mohammad Javad Zarif and EU foreign policy Chief Federica Mogherini who visited Iran along with seven European commissioners.

The two sides taking stock of their long standing relations, based upon mutual respect and interests, reiterated their intention to develop a broad and comprehensive agenda for bilateral cooperation. 


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