Iran’s H1 exports to Germany hit €110m

August 14, 2019

TEHRAN – Iran exported nearly €110 million (about $123 million) worth of commodities to Germany in the first six months of 2019, Reuters reported on Monday, citing data from Germany’s Federal Statistics Office.

Based on the data, exports to the European country fell 43 percent in the mentioned time span compared to the past year.

Affected by the U.S. sanctions, Germany’s exports to Iran also plunged by 48 percent to 678 million euros ($758.8 million).

Germany exported mainly machinery, chemical products, cars and car parts to Iran.

Last month, the managing director of Germany-Iran Chamber of Commerce and Industry (AHK Iran) said the current political situation (sanctions) is negatively affecting the economic relations between Iran and Germany.

“The economic relations between Iran and Germany will only grow when the political situation becomes stable again,” Dagmar von Bohnstein said in an interview with the portal of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA).

The official noted that since U.S. withdrawal from the nuclear deal and re-imposition of sanctions, German companies have shown more willingness for continuing economic activities in Iran, compared to other European countries, although their activities have also been affected by the U.S. sanctions.

“Despite the sharp decline in trade between the two countries, Germany remains Iran’s top trading partner in Europe,” she said adding that “Despite the U.S. pressures on European companies, 60 German companies are still operating in Iran.” 

The German companies operating in Iran are active in a variety of fields, including machinery and industrial equipment, agriculture, petrochemicals, pharmaceuticals, renewables and foodstuff.

EF/MG

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