Iran-EU trade stands at €4.24 billion in 2020

Trade between Iran and 27 EU member states in 2020 stood at €4.24 billion, registering a 13.35% decline compared with €4.89 billion in 2019, latest data provided by the European Statistical Office (Eurostat) show.

10 March 2021
ID : 32805
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Trade between Iran and 27 EU member states in 2020 stood at €4.24 billion, registering a 13.35% decline compared with €4.89 billion in 2019, latest data provided by the European Statistical Office (Eurostat) show.

Germany, Italy and the Netherlands were Iran’s top three trading partners in the European bloc with bilateral exchanges standing at €1.72 billion, €664.1 million and €372.75 million respectively, Eurostat said.

Iran exported €618.03 million worth of commodities to EU during the 12-month period, indicating a 7.18% fall compared with €665.8 million in 2019.

The main export destinations over the period were Germany (€263.4 million), Italy (€106.67 million), Spain (€55.94 million), Belgium (€33.16 million) and Romania (€30.22 million).

Germany recorded the highest growth in imports from Iran, among major trade partners of Iran, with 38.76%.

The exported goods mainly included edible fruit and nuts; iron and steel; plastics and articles thereof; coffee, tea, mate and spices; carpets and other textile floor coverings; pharmaceutical products worth; products of animal origin, not elsewhere specified or included; iron and steel products; lac, gums, resins and other vegetable saps and extracts; and nuclear reactors, boilers, machinery and mechanical appliances.

Imports from EU dropped by 14.32% to stand at €3.62 billion in 2020.

The top five exporters from the European bloc to Iran were Germany with €1.46 billion, Italy with €557.5 million, the Netherlands with €351.85 million, France with €254.4 million and Belgium with €203.8 million worth of shipments to Iran.

Imports mainly included boilers, machinery, mechanical appliances and parts thereof; pharmaceutical products; optical, photographic, cinematographic, medical or surgical instruments and apparatus, parts and accessories thereof; electrical machinery and equipment and parts thereof; sound and television image recorders and reproducers, and parts and accessories of such articles; cereals; organic chemicals; miscellaneous chemical products; plastics and articles thereof; oilseeds and oleaginous fruits; miscellaneous grains, seeds and fruit; industrial or medicinal plants, straw and fodder; and essential oils and resinoids; perfumery, cosmetic or toilet preparations.

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