Europe's share in Iran imports halved since 2005

Europe's share in Iran imports halved since 2005

By Dalga Khatinoglu -Trend:

Iran is going to appoint five new commercial attaches in Europe in a bid to boost its trade ties.

Five new commercial attaches will be dispatched to Germany, Italy, Serbia, Spain, and Switzerland, Miraboutaleb Badri, Deputy Director of Iran's Trade Promotion Organization told Mehr news agency on May 4..

Iran and EU faced a significant drop in trade turnover during Ex-President Mahmoud Ahmadinejads' time in office due to Tehran's disputed nuclear program and hard-liners' aggressive foreign policy.

According to Iran Custom Administration and Iran Commerce Chamber's official statistics, Europe had about 50 percent share in Iran's imports in 2005, as well as some 15 percent of Iran's total non-oil exports.

Iran's main European partners in 2005:

Rank

Country

Exports to Iran

Share in Iran's total imports

Imports from Iran

Shares in Iran's total exports

Rank

2

Germany

$5,118,934,175

13.158

$342,778,805

3.665

8

3

France

$2,738,963,825

7.04

$69,887,209

0.747

29

5

Italy

$2,353,990,215

6.051

$267,096,236

2.855

11

7

Switzerland

$1,212,640,704

3.117

$24,526,648

0.262

42

8

Sweden

$1,186,839,956

3.051

$10,459,126

0.112

55

11

UK

$1,026,370,796

2.638

$74,676,634

0.798

27

13

Turkey

$856,210,090

2.201

$171,310,875

1.831

15

14

Netherlands

$841,015,029

2.162

$200,116,141

2.139

14

16

Belgium

$732,923,177

1.884

$74,004,859

0.791

28

17

Austria

$684,397,789

1.759

$9,954,074

0.106

56

20

Spain

$363,949,220

0.936

$128,495,507

1.374

19

24

Denmark

$248,363,639

0.638

$11,908,376

0.127

54

30

Finland

$147,904,213

0.38

$2,272,234

0.024

83

35

Poland

$100,503,343

0.258

$8,358,529

0.089

59

36

Romania

$96,762,178

0.249

$9,158,742

0.098

57

39

Cyprus

$91,593,120

0.235

$2,442,416

0.026

81

41

Ireland

$77,290,757

0.199

$1,391,859

0.015

93

43

Czech

$62,022,059

0.159

$1,254,840

0.013

96

Total:

$17,940,674,285

46.115

$1,410,093,110

15.072

Iran and Europe's trade turnover has decreased dramatically since 2005, especially after the EU imposed tough sanctions over Iran's banking system, crude oil and petrochemical products exports.

Europe was the target of 18 percent of Iran's total oil exports in 2011, amounting to 480,000 barrels per day, but the EU stopped Iranian oil imports in mid-2012.

Year

Iran's exports to EU
- Billion dollar

Share of total

Iran's total exports-
Billion dollar

Iran's imports from EU-
Billion dollar

Share of total

Iran's total imports-
Billion dollar

2005

1.4

15%

9.35

18

49%

38.9

2007*

1.65

10%

15.29

17.27

35%

48.38

2013*

1.723

5.3

41.448

15.3

28.6

53.451

2014*

1.44

4.61

41.628

10.98

21.6

50.818

* Iran's fiscal year starts on March 20, the table covers March 20, 2005 to the March 20, 2014.

However, the latest monthly report released by the Custom Administration says that Iran's exports to the EU increased by 15 percent between March 20, 2014 and April 20, 2014, compared to the same period last year. However, Europe Union's exports to Iran decrease by 25 percent during the mentioned period.

During last Iran's fiscal year, Germany, Italy, Spain and Switzerland exported $2.5 billion, $ 850 million, $ 250 million and $2.33 billion worth goods to Iran respectively.

Iran's exports to these country's ware totally about $660 million.

Iran imported about $500 million from the EU and exported $98 million to them during the mentioned period.

Dalga Khatinoglu is specialist on Iran's energy sector and Iran News Service head in Trend Agency

Edited by C.N.

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