2024 H1 report on trade between Iran and Europe
19.08.2024
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22.08.2024Iranian-German Trade Sees 7% Growth in First Half of 2024
From January to June 2024, Iran and Germany exchanged 748 million goods. Despite the decline in Iranian exports, the volume of trade increased by seven percent compared to the first half of 2023.
Trade between Iran and Germany showed positive growth in the first half of 2024, with a notable increase in German exports. According to recent data, the total trade volume between the two countries reached 748 million euros from January to June 2024, reflecting a 7 percent rise compared to the same period last year, when the trade volume was 701 million euros.
German exports to Iran played a significant role in this increase, amounting to 632 million euros during the first six months of the year. This marks a substantial 12 percent growth compared to the 567 million euros recorded in the same period in 2023. The rise in German exports indicates a strong demand for German goods in Iran, despite the challenging global economic environment.
In contrast, Iranian exports to Germany experienced a downturn. From January to June 2024, Iran exported goods worth 116 million euros to Germany, a decline of 14 percent compared to the 135 million euros recorded in the first half of 2023.
Machinery and transport equipment are the largest commodity group exported from Germany to Iran with a value of 259 million euros (+23 percent), and the largest export of Iran to Germany is food and live animals with a value of 55 million euros (+20 percent).
