Major rise seen in Iran’s exports to EU

Business Materials 23 May 2015 23:59 (UTC +04:00)

Figures released by Eurostat - the statistical office of the European Union - show the increase of Iran's exports to Europe were more than five times higher than the increase in its imports from the country during the same period, Irna reported.

Eurostat says the value of the bloc's imports from Iran over the period stood at €349 million.

The figure shows an increase of 34 percent compared to the same period last year.

The value of EU's exports to Iran, on the other hand, stood at €1.46 billion, about 6 percent higher than the same period last year.

The total value of Iran-EU trade in the first quarter stood at €1.809 billion showing an increase of 11 percent compared to the same period last year, Press TV reported.

Figures show an increase of 20 percent in overall trade between Iran and the EU in 2014. This is while Iran-EU trade saw a dramatic decline of 47 percent in 2013.