Iran exported more than €۹٫۲۲ billion worth of commodities to the EU, up 100% and imported €۹٫۳۳ billion, indicating a 30% rise YOY

Reported by HPMM Group according to FINANCIAL TRIBUNE ;    Iran’s trade with the European Union member states during the 11 months to Nov. 30, 2017, stood at close to €۱۸٫۵۶ billion, registering a 57% increase compared with the corresponding period of last year.

Iran’s top five trading partners over the period were Italy with more than €۴٫۵۴ billion, France with €۳٫۴۵ billion, Germany with €۲٫۹۹ billion, Spain with €۱٫۶۷ billion and the Netherlands with €۱٫۳۴ billion worth of exchanges, the report reads.

Trade with Italy saw a 117% upsurge year-on-year–the highest increase in bilateral exchanges between Iran and EU members over the period, latest Eurostat figures shared with Financial Tribune show.

Iran’s trading with Ireland (€۱۳۹٫۶ million) and Luxembourg (€۵٫۵۳ million) was the second and third highest, indicating a 114% and 102% hike respectively YOY.

Iran’s trade with Estonia (€۵٫۲ million), Lithuania (€۱۰٫۲۸ million) and Slovakia (€۲۴٫۱ million) experienced the biggest YOY contractions of -58%, -46% and -11% respectively.

Iran exported more than €۹٫۲۲ billion worth of commodities to the EU over the period, showing a 100% upsurge YOY. Italy with nearly €۳٫۰۲ billion worth of purchases was Iran’s main export destination, followed by France (€۲٫۱۶ billion) and Spain (€۱٫۳۱ billion).

Exports to Ireland, amounting to €۱٫۹۱ million, experienced the highest rise of 479% YOY.

Iran’s exports to Portugal plummeted the most (-90% YOY) to reach €۳٫۳۲ million.

Imports from the EU’s 28 member states stood at over €۹٫۳۳ billion, indicating a 30% rise compared with the similar period of last year. Germany (€۲٫۶۴ billion), Italy (€۱٫۵۲ billion) and France (€۱٫۳ billion) topped the list of EU countries from where Iran imported goods over the period.

Iran imports from Portugal amounted to €۵۷٫۷۶ million to register the highest increase of 326% YOY while imports from Denmark registered the sharpest drop to stand at €۵٫۱۵ million.

Iran’s main exported commodities to the EU states were fuels, mineral oils and products of their distillation, bituminous substances and waxes (€۷٫۳۲ billion), fruit, nuts and zest of fruits (€۱۸۵٫۳۵ million), plastics and articles (€۱۶۶٫۱۱ million), iron and steel (€۱۶۵٫۱ million), coffee, tea, milk powder and spices (€۴۹٫۳۶ million), organic chemicals (€۴۶٫۱۴ million), products of animal origin (€۳۴٫۵۷ million), boilers, machinery, mechanical appliances and parts (€۳۴٫۱۵ million), carpets and other textile floor coverings (€۲۹٫۴۴ million) and lac, gums, resins and other vegetable saps and extracts (€۲۶٫۲۵ million).

The EU’s main exported goods to Iran included nuclear reactors, boilers, machinery, mechanical appliances and parts thereof (€۲٫۳۷ billion), vehicles other than rail or tramway rolling stock and parts (€۷۱۱٫۴۱ million), electrical machinery, equipments and parts, sound recorders and reproducers, television image and sound recorders and reproducers and accessories (€۶۹۴٫۵ million), optical, photographical, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus, parts and accessories (€۶۵۶٫۸۳ million), pharmaceutical products (€۶۰۹٫۲۸ million), aircraft, spacecraft and parts (€۳۷۶٫۸ million), miscellaneous chemical products (€۲۳۶٫۷۲ million), plastics and related products (€۲۱۸٫۱۳ million), iron and steel products (€۱۸۲٫۶۶ million) and essential oils and resinoids, perfumery and cosmetic or toilet preparations (€۱۶۴٫۲ million).