Trade between Iran and the Netherlands fell to about $500 million in 2024, down sharply from peaks of more than $5 billion before international sanctions were imposed, the Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) said in a report published on Monday.
According to the report released by ICCIMA International Department on Monday, bilateral trade had reached $3.8 billion in the 1970s and $5.5 billion in 2010, but Western sanctions, competition from China and political tensions have eroded economic ties over the past decade.
The Netherlands, long regarded as a strategic partner for Iran in agriculture, energy and logistics, was once a major buyer of Iranian crude, importing about $3 billion annually in the 2000s. That figure dropped to $150 million in 2024, with Rotterdam no longer serving as a hub for Iranian oil, the report said.
Agricultural cooperation has also weakened. Dutch exports of seeds and farming technology to Iran fell from $400 million in 2016 to $250 million last year.
The report noted that lifting sanctions, clearing Iran’s oil debt arrears and boosting cooperation could return bilateral trade to pre-sanctions levels of around $5 billion, adjusted for inflation. However, it added that in short-term only limited growth is likely under current restrictions.