Iran and the European Union member countries have traded some €1.18 billion worth of goods in the first three months of 2023, according to an update by the statistical office of the European Union (Eurostat).
The figures released by the Eurostat suggest an 11% decline in Iran’s trade with the 27-member bloc in the January-March period compared to €1.33 billion of last year’s corresponding period.
Exports to Iran by the European Union in the three-month period (€960 million) also showed a 9% year-on-year fall. The figure stood at €1.055 billion in the corresponding period of last year.
Iran’s January-March exports to the bloc (€220 million) also registered a 20% year-on-year decline in the time span, down from €275 million in the first quarter of 2022.
Germany continues to be Iran’s number one trade partner in the European Union followed by Italy and Netherlands.