Iran's exports to EU up 39% in 5 months on year

July 18, 2022 - 13:46

TEHRAN – The value of Iran’s export to the European Union (EU)’s member states rose 39 percent in the first five months of 2022, as compared to the first five months of 2021, according to the data released by the European Union's statistics office Eurostat.

The Eurostat’s data show that Iran has exported commodities worth €465 million to the union in the five-month period of this year, while the figure was €333 million in the same times span of the previous year, IRNA reported.

The EU’s export to Iran has also rose six percent to €1.61 billion from €1.512 billion.

According to the Eurostat, the value of trade between Iran and the European Union reached €2.075 billion in January-May 2022, while the figure was €1.845 billion in the same period of time in 2021.

Among the EU member states, Germany was Iran’s top trade partner in the mentioned five months, accounting for 37 percent of Iran’s total trade with the union.

As previously reported by the Eurostat, 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.

The trade between Iran and the European Union during 2020 stood at €4.458 billion.

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.

MA/MA

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