Baku, Azerbaijan, April 1
By Gazenfer Hamidov – Trend:
Iran’s imports from Sweden witnessed a rise by 535 percent in terms of volume during the first 11 months of the last fiscal year (March 20, 2017-Feb. 20).
Iran imported 160,000 tons of goods, worth $656 million from the European country in the period, according to the Trade Promotion Organization of Iran (TPOI).
Other European countries including Germany, Switzerland, France, Italy, UK, Belgium and Spain also have taken spots among the top 20 exporters of goods to Iran in the period.
Germany was the top exporter to Iran among the EU countries during the first 11 months of the last fiscal year with $2.641 billion worth of goods.
The European country stood fifth after China, UAE, South Korea and Turkey.
Germany’s exports to Iran registered a rise by 21 percent year-on-year.
Germany shared 5.5 percent of Iran’s overall imports in terms of value in the 11-month period.
However the volume of the country’s exports to Iran amounted to 835,000 tons, 4 percent less year-on-year, which indicates that the European country has exported more valuable goods to Iran during the last fiscal year.
Besides Germany, Switzerland ($1.953 billion, a 72 percent increase), France ($1.557 billion, a 79 percent increase), the Netherlands ($1.326 billion, a 81 percent increase), Italy ($1.259 billion, a 16 percent increase), the UK($982 million, 147 percent increase), Sweden($656 million, 132 percent increase), Belgium($580 million, 69 percent increase) and Spain($367 million, 25 percent increase) were the European countries that took place among the top exporters of goods to Iran in the mentioned period.
The EU's trade with Iran was subject to restrictions derived from United Nations Security Council (UNSC) sanctions between 2006 and 2010. EU exports to Iran plummeted to 7.3 billion euros in 2012, down from highs of 11.3 billion euros in 2006. Under the sanctions, the Islamic Republic shifted its trade eastward, and expanded economic ties with countries such as China and India as well as Turkey and the United Arab Emirates, which took the advantage of the sanctions, and acted as re-exporting intermediary to Iran.
During the first 11 months of last fiscal year, Iran purchased 61 percent of its imported goods from five countries – China, the UAE, South Korea, Turkey and Germany.
China was the main exporter of goods to Iran in the mentioned period. China’s exports accounted for 24 percent of Iran’s total imports in terms of value. During the 11-month period, Iran imported $11.534 billion worth of goods from China, indicating a 23-percent increase year-on-year.
Iran also imported $8.759 billion worth of goods from the UAE (a 51 percent increase), which makes 18.4 percent of Iran’s total imports value.
South Korea exports accounted to $3.292 billion to Tehran, 8 percent more year-on-year.
Turkey exported $2.863 billion worth of goods to Iran in the 11-month period, 20 percent more year-on-year.