Iran’s exports to the EU are up 39% yoy in 5 months

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TEHRAN – The value of Iranian exports to European Union (EU) member states increased by 39 percent in the first five months of 2022 compared to the first five months of 2021, according to data released by the European Union Statistics Office, according to Eurostat.

Eurostat data shows that Iran exported goods worth 465 million euros to the Union in the five months of this year, compared to 333 million euros in the same period last year, IRNA reported.

EU exports to Iran also increased by six percent to 1.61 billion euros from 1.512 billion euros.

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

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

As previously reported by Eurostat, the value of trade between Iran and the European Union reached 4.863 billion euros in 2021, a nine percent growth over the previous year.

Trade between Iran and the European Union in 2020 was worth 4.458 billion euros.

Iran exported 922 million euros worth of goods to the Union in January-December 2021, up 29 percent year-on-year.

Based on the data mentioned, exports from Europe to the Islamic Republic also increased by five percent to 3.941 billion euros in the year in question.

In 2020, Iran imported goods worth 3.745 billion euros from European Union countries and exported 713 million euros 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 goods worth 1.449 billion euros to Iran and imported goods worth 274 million euros from the Islamic Republic. The country’s total trade with Iran was 1.723 billion euros.

Italy was Iran’s second largest trading partner with 628 million euros in commodity exchanges. The country exported €450 million worth of goods to Iran and imported €178 million worth of products from the country.

The Netherlands came third with a turnover of 481 million euros. The country exported goods worth 443 million euros to Iran and imported 38 million euros.

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

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