Iran-EU 9-month trade up 2% yr/yr

November 30, 2021 - 14:13

TEHRAN – The value of trade between Iran and the European Union reached €3.4 billion during the first nine months of 2021, a two-percent growth compared to the same period last year.

According to the data released by the Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA), Iran exported €554 million worth of commodities to the union during the said nine months, while importing goods valued at €2.7 billion, Mehr News Agency reported.

The trade between Iran and the European Union during the first nine months of 2020 stood at €3.345 billion, the TCCIMA data showed.

Based on the mentioned data, the exports from Iran to Europe in the said nine months increased by 14 percent, while the imports have dropped 0.6 percent year on year.

Iran had exported €563 million worth of commodities to the European Union states in the nine-month period from January to September 2020, registering a 13-percent rise compared to the same period in 2019.

Meanwhile, Iranian exports to the union in September declined 23 percent as compared to the figure for the previous months, the data showed.

Foodstuff and livestock, beverages and tobacco, raw materials, mineral fuels, and vegetable oils have been the main commodities Iran exported to the European countries during the said time span, while foodstuff, beverages and tobacco, mineral fuels, vegetable oils, and chemicals also accounted for the largest share of imports.

Germany, Italy, and Spain have been the main export destinations for Iranian goods, while Germany, Spain, and the Netherlands were the top exporters to Iran among European nations.

The Islamic Republic had also imported €2.783 billion worth of goods in the first nine months of 2020, a 15-percent decline compared to the corresponding period in 2019.

The data provided by the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) indicate that in January 2020, when the coronavirus had not been widespread in different parts of the world, trade between Iran and Europe grew by more than 17 percent, but the figure has been following a downward trend since then.

EF/MG

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