Iran-Germany trade falls 20 percent

Business Materials 28 May 2012 20:21 (UTC +04:00)

Azerbaijan, Baku, May 28/Trend M. Moezzi/

Customs' data shows trade between Iran and German dropped 21.3 percent last year.

The two countries did $3.8 billion (USD) in trade last year (Iran's solar year ended on March 19) compared to $4.9 billion the year before, the Iranian Students' News Agency (ISNA) reports.

Although Iran's exports to Germany grew 19.7 percent last year, exceeding $415 million, its imports dropped 24.4 percent to $3.4 billion.

Iran exported items like hand woven carpets, pistachios, antiserum and licorice extract to Germany, and imported goods including medicines, synthetic fibers and industrial furnaces.

Germany is considered one of Iran's biggest European trade partners.