Nine EU members among top exporters to Iran

Business Materials 25 June 2018 17:52 (UTC +04:00)

Baku, Azerbaijan, June 25

By Umid Niayesh - Trend:

Nine European countries have taken place among top goods exporters to Iran in the current fiscal year, started March 20, 2018.

The 28-member bloc was Tehran’s first trade partner in the pre-sanctions period, before its trade with Iran became subject to restrictions derived from United Nations Security Council (UNSC) sanctions between 2006 and 2010.

The latest report released by the Trade Promotion Organization of Iran (TPOI) said that Germany, Switzerland, France, the Netherlands, Italy, UK, Sweden, Belgium and Spain have taken spots among the top 20 exporters of goods to Iran‎ in the first two months of the current fiscal year (March 20-May 21).

Germany was the top exporter to Iran among the EU countries during the period with $357 million worth of goods. The European country stood fourth after China, UAE and South Korea.

Germany’s exports to Iran registered a fall by 6 percent year-on-year. Germany shared 6.2 percent of Iran’s overall imports in terms of value in the 2-month period.

The volume of the country’s exports to Iran amounted to 125,000 tons, 25 percent more year-on-year.

Iran’s imports from the Spain witnessed the highest rise among the EU members by 30 percent in terms of value during the period. Iran imported 92,000 tons of goods, worth $73 million from the European country in the first two months of the current fiscal year.

Switzerland exported $349 million worth of goods to Iran (a 13 percent increase), followed by France ($187 million, no change compared to preceding year), the UK ($186 million, 23 percent increase), Italy ($148 million, a 20 percent fall), the Netherlands ($90 million, a 59 percent fall), Spain ($73 million, a 30 percent increase), Sweden ($61 million, a 14 percent fall) and Belgium ($57 million, a 21 percent fall).‎

During the same span of time, Iran purchased 57 percent of its imported goods from five countries – China, UAE, South Korea, Germany and Turkey.

China was the main exporter of goods to Iran in the mentioned period. China’s exports accounted for 25.5 percent of Iran’s total imports in terms of value. During the 2-month period, Iran imported $1.736 billion worth of goods from China, indicating a 14-percent increase year-on-year.

Iran also imported $986 million worth of goods from UAE (a 16 percent decrease), which makes 14.5 percent of Iran’s total imports value.

South Korea's exports to Tehran amounted to $423 million, 7 percent less year-on-year.

Turkey exported $353 million worth of goods to Iran in the period, 24 percent less year-on-year.

Oman’s exports to Iran witnessed the highest growth among the top 20 exporters of goods to Iran and hiked by 775 percent to $117 million.

Russia, which was eighth top exporter to the Islamic Republic in the same span of time also increased its sales to the country by 393 percent to $282 million.