Continued Growth in Trade Between Iran and Germany
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21.10.2024Three Percent Growth in Trade Between Iran and the EU-27
While the current trade volume between Iran and Europe remains significantly lower than pre-sanction levels, there has been notable improvement compared to last year. Trade relations between Iran and the EU-27 are gradually experiencing more favorable conditions.
According to Eurostat, trade between Iran and the EU-27 in the first seven months of 2024 reached €2.77 billion, reflecting a 3% increase compared to the same period in 2023. During this time, European exports grew by 2%, rising from €2.21 billion to €2.26 billion. Similarly, Iran’s exports to the EU-27 increased by 5%, from €482 million to €504 million.
In July 2024 alone, the trade volume between Iran and the EU-27 amounted to €397 million, marking a 7% growth. European exports accounted for €324 million (+5%), while Iran’s exports surged by 28% to €73 million.
Germany accounts for 31% of the total trade between Iran and the EU-27, with a trade volume of €880 million. Italy follows with 16%, and the Netherlands with 13%, solidifying their positions as Iran’s key trading partners in Europe.
