Trade between Iran and the European Union amounted to €3.77 billion from January to October 2024, marking a 1% decline compared to the same period in 2023, according to data from Eurostat, the EU's statistical office.
EU exports to Iran during this period stood at over €3 billion, a 2% decrease from the previous year. Conversely, Iranian exports to the EU increased by 6%, rising from €654 million in 2023 to €695 million in 2024.
Germany remained Iran's top trading partner in Europe, with a trade volume of €1.23 billion. Italy ranked second with €585 million, followed by the Netherlands (€512 million), Belgium (€281 million), and France (€234 million).
In October 2024 alone, trade between Iran and the EU reached €300 million, a 19% drop compared to €369 million in October 2023. Iranian exports during the month rose by 9% to €65 million, while EU exports to Iran fell by 24% to €235 million.