Iran-EU trade turnover registers huge rise

Business Materials 23 October 2017 21:46 (UTC +04:00)

Baku, Azerbaijan, Oct. 23

By Fatih Karimov– Trend:

The European Union’s trade with Iran amounted to 13.2 billion euros in the first eight ‎months of 2017, according to the latest figures ‎released by the European Union’s statistics agency Eurostat.

The figure indicates a 75 percent rise year-on-year compared to 7.5 billion euros in the same months of 2016.

Iran’s exports to the EU stood at 6.5 billion euros from January to August 2017, 144 percent more compared to 2.7 billion euros during the same time span in 2016.‎

Meanwhile, Iran’s imports from the 28-member Union increased by 37 percent to 6.7 billion euros in first eight months of 2017.

International and Western sanctions on Iran, including the banking related sanctions, were removed in January 2016.

From January to August 2017, EU28 exports of goods stood at 1,233.3 billion euros, registering an increase of 9.3 percent compared with January-August 2016.

The imports of the 28 EU countries amounted to 1,227.8 billion euros, 9.4 percent more year-on-year.