Iran-EU trade rises 9% in 2021

February 19, 2022 - 15:55

TEHRAN - The value of trade between Iran and the European Union reached €4.863 billion in 2021, registering a nine-percent growth compared to the previous year.

According to the data released by the European Union's statistics office Eurostat, the trade between Iran and the European Union during 2020 stood at €4.458 billion, Tasnim news agency reported.

Iran exported €922 million worth of commodities to the union during January-December 2021 to register a 29-percent rise year on year.

Based on the mentioned data, the exports from Europe to the Islamic Republic in the said year also increased by five percent, standing at €3.941 billion.

Iran had imported €3.745 billion worth of commodities from the European Union states in 2020, while exporting €713 million to the region.

Among European countries, Germany was Iran's top trading partner in 2021, accounting for about a third of Iran's trade with the European Union. Germany exported €1.449 billion worth of goods to Iran while importing €274 million worth of commodities from the Islamic Republic. The country's total trade with Iran was 1.723 billion euros.

Italy was Iran's second-biggest trading partner with €628 million euros of commodity exchanges. The country exported €450 million worth of goods to Iran while importing €178 million worth of products from the country.

The Netherlands stood in third place with a trade of €481 million. The country exported €443 million euros worth of goods to Iran and imported €38 million.

Iran mainly exports foodstuff and livestock, beverages and tobacco, raw materials, mineral fuels, and vegetable oils to the European countries, while foodstuff, beverages and tobacco, mineral fuels, vegetable oils, and chemicals are also the main products imported from the union.

The value of trade between Iran and the European Union had 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.

EF/MA

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