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Iran-EU post-sanctions trade hits €2B in 3 months

Business Materials 23 May 2016 20:04 (UTC +04:00)

Tehran, Iran, May 23

By Mehdi Sepahvand - Trend:

Trade between Iran and the European Union in the three months following the removal of sanctions against Iran hit €2 billion.

Iran's trade volume with 28 EU member states in the first quarter of 2015 jumped by 22 percent, Eurostat reported May 23.

The nuclear deal was put into action in January, after which experts expected Iran-EU trade would rise hugely.

According to Eurostat, while in the first quarter of 2015 Iran-EU trade had stood at €1.634 billion, it hit €1.998 billion in the corresponding period this year.

EU export to Iran in the first quarter of this year rose by 16 percent compared to the same period last year, that is, from €1.374 billion to €1.602 billion.

EU imports in the meantime rose by 52 percent, literally from €260 million to €396 million.

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