November 29, 2020

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Iran’s 9-month exports to EU up 13% yr/yr

TEHRAN – Iran exported 563 million euros worth of commodities to the European Union states in the nine-month period from January to September 2020, registering a 13-percent rise compared to the same period in 2019.

The trade between Iran and European Union countries during the said period stood at €3.345 billion, 11 percent less than the figure in the previous year’s same nine months, data released by Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) showed.

Meanwhile, the Islamic Republic imported €2.783 billion worth of goods in the mentioned time span, a 15-percent decline compared to the corresponding period in 2019.

As reported, Iranian exports to the EU stood at €81 million in September to register a 94-percent increase compared to the previous month.

Imports in the mentioned month reached €322 million, 28 percent more than August.

Valued at €222 million, foodstuff and livestock groups had the biggest share of the Iranian exports to the EU during the period under review, followed by chemicals and related products with about €110 million of exports.

Meanwhile, the highest value of Iran’s imports from the EU during the said nine months was related to machinery and transportation equipment with €887 million of imports.

Among the European countries, Germany was the top destination for Iranian commodities during the first 9 months of 2020, accounting for about 36 percent of the total value of Iran’s exports to the EU.

The Netherlands, Italy, and Spain were other top destinations for Iranian exports.

Germany and Italy were also among the top exporters of goods to Iran in the mentioned period.

The trade between Iran and the EU nations has decreased in the current Iranian calendar year due to the outbreak of the coronavirus and also as a result of the U.S. sanctions.

The data provided by Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) indicate that in January 2020, when the coronavirus had not been widespread in different parts of the world, trade between Iran and Europe grew by more than 17 percent, but this figure decreased in the next month and fell to negative since March.

According to the mentioned data, the biggest drop in the trade between the two sides was reported for July when the trade fell by about 20 percent.

As reported, Iran’s exports to the EU increased by 45 percent and 42 percent in the first two months of 2020, respectively, however, the trend became negative in the following months.

EF/MA

Original News : https://www.tehrantimes.com/news/454942/Iran-s-9-month-exports-to-EU-up-13-yr-yr

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