Transactions With EU Hit $2.6b

EghtesadOnline: Transactions between Iran and EU member states during January-July 2020 stood at €2.65 billion to register a 9.07% decline compared with last year’s corresponding period, latest data provided by the European Statistical Office show.

News ID: ۷۵۱۰۸۱

25 September 2020

Germany, Italy and the Netherlands were Iran’s top three trading partners in the European bloc with bilateral exchanges standing at €1.07 billion (up 15.26% YOY), €390.84 million (down 28.7% YOY) and €291.51 million (up 1.59% YOY), respectively.

Iran’s trade with Slovakia (€7.76 million) Luxembourg (€885,444), and Bulgaria (€84.05 million) increased by 191.65%, 143.72% and 62.33% respectively year-on-year, which constitute the highest among EU states.

Trade with Finland (€2.31 million), Ireland (€5.92 million), Malta (€28,084), Latvia (€390,427) and Croatia (€3.09 million) saw the sharpest declines of 88.12%, 82.89%, 80.93%, 76.72 and 72.09% respectively.

Eurostat is a directorate of the European Commission located in Luxembourg. Its main responsibilities are to provide statistical information to EU institutions and promote the harmonization of statistical methods across its member states and candidates for accession.

Organizations cooperating with Eurostat in different countries are summarized under the European Statistical System.

Exports Grow 4.66%

Iran exported €439.78 million worth of commodities to the EU during the seven-month period, indicating a 4.66% increase compared with the similar period of last year.

The main export destinations over the period were Germany (€165.57 million), the Netherlands (€79.95 million), Italy (€62.34 million), Spain (€37.09 million) and Belgium (€23.26 million).

Iran’s exports to Luxembourg (€475,825), the Netherlands (€79.95 million) and Finland (€880,531) experienced the highest year-on-year growth rates of 1,221%, 667% and 150% respectively.

This is while exports to Croatia (€946,508), Portugal (€616,239) and Latvia (€306,908) fell by 85.88%, 76.04% and 73.05% YOY respectively, which mark the sharpest decline among EU member states.

The exported goods mainly included edible fruit and nuts, citrus zest and melons worth €147.7 million; other nuts, fresh or dried, shelled or peeled worth €121.97 million; mineral fuels, mineral oils and products of their distillation and mineral waxes worth €68.78 million; petroleum oils and oils obtained from bituminous minerals, and crude worth €67.34 million; plastics and articles thereof worth €34.5 million; coffee, tea, maté and spices worth €22.43 million; as well as ginger, saffron, turmeric, thyme, bay leaves, curry and other spices worth €21.8 million.

Organic chemicals worth €21.5 million; pharmaceutical products worth €20.31 million; antisera and other blood fractions and immunological products, whether or not obtained by means of biotechnological processes; vaccines, toxins, cultures of microorganisms (excluding yeasts) and similar products worth €20.28 million; products of animal origin, not elsewhere specified or included worth €19.24 million; animal offals (excluding fish), whole and pieces thereof, fresh, chilled, frozen, salted, in brine, dried or smoked worth €19.24 million; grapes, fresh or dried worth €15.58 million; iron and steel products worth €15.45 million; lac, gums, resins, vegetable saps and extracts worth €11.76 million and polymers of styrene worth €11.52 million were the other major exported goods.

Imports Drop 11.39%

Imports from the EU dropped by 11.39% to stand at €2.21 billion during the seven months under review.

The top five exporters from the European bloc to Iran were Germany with €920.52 million, Italy with €328.5 million, the Netherlands with €211.57 million, France with €137.57 million and Spain with €126.14 million worth of shipments to Iran.

Slovakia with €5.27 million, Bulgaria with €72.72 million and Luxembourg with €409,619 were EU countries whose exports to Iran saw the highest YOY increase of 402%, 144% and 25.15% respectively.

Malta with €1,553, Finland with €1.43 million and Latvia with €83,519 experienced the sharpest YOY decline in exports to Iran (98.7%, 92.51% and 84.48% respectively).

The imports mainly included nuclear reactors, boilers, machinery and mechanical appliances, as well as parts thereof worth €483.71 million; pharmaceutical products worth €294.96 million; cereals worth €282.74 million; optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus, parts and accessories thereof worth €224.38 million; wheat and meslin worth €201.7; and antisera and other blood fractions and immunological products, vaccines, toxins and cultures of microorganisms (excluding yeasts) worth €140.22 million.

Other imports included medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses worth €117.64 million; electrical machinery and equipment, sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles worth €98.11 million; instruments and appliances used in medical, surgical, dental or veterinary science worth €88.61 million and maize or corn worth €76.03 million.

Miscellaneous chemical products worth €63.62 million; oilseeds and oleaginous fruits; grains, seeds and fruit, industrial or medicinal plants, straw and fodder worth €60.56 million; organic chemicals worth €59.12 million; taps, valves and similar appliances for pipes, boiler shells, tanks, vats or the like, including pressure-reducing valves and thermostatically controlled valves worth €55.26 million; seeds, fruits and spores, for sowing (excluding leguminous vegetables and sweetcorn, coffee, tea, mate, spices, cereals, oilseeds and oleaginous fruits, seeds and fruit used primarily in perfumery, medicaments or for insecticidal, fungicidal or similar purposes) worth €53.97 million; apparatus based on the use of X-rays or of alpha, beta or gamma radiations, whether or not for medical, surgical, dental or veterinary uses, including radiography or radiotherapy apparatus, X-ray tubes and other X-ray generators, high tension generators, control panels and desks, screens, examination or treatment tables and chairs worth €51.17 million and plastic products worth €46.94 million.

Trade in July

Iran’s trade with EU member states in July stood at €411.29 million to register a drop of 19.58% compared with the corresponding month of 2019.

Germany, Italy and the Netherlands were Iran’s top three trading partners in July, with commercial exchanges standing at €150.53 million, €66.53 million and €54.98 million respectively.

Iran’s trade with Slovakia (€1.02 million), Sweden (€3.9 million) and the Netherlands (€54.98 million) increased by 246.08%, 64.49% and 42.07% respectively year-on-year, marking the highest among EU states.

Trade with Estonia (€5,051), Finland (€181,342) and Portugal (€386,495) saw the sharpest declines of 96.8%, 94.36% and 84.53% respectively.

Iran exported €92.25 million worth of commodities to the EU during July, indicating a 52.24% rise compared with last year’s July.

The main export destinations in July were Germany (€33.84 million), the Netherlands (€28.15 million) and Italy (€10.49 million).

Iran’s exports to the Netherlands (€28.15 million), Cyprus (€35,184) and Luxembourg (€55,774) experienced the highest year-on-year growth rates of 1,635%, 1,178% and 1,072% respectively.

This is while exports to Portugal (€60,615), Croatia (€127,178) and Lithuania (€29,957) fell by 97.31%, 94.72% and 83.52% YOY respectively, which are the sharpest among EU member states.

Imports from EU decreased by 29.24% to stand at €319.05 million in July.

The top three exporters from the European bloc to Iran were Germany with €118.69 million, Italy with €56.05 million and the Netherlands with €26.83 million worth of shipments to Iran.

Slovakia with €769,115 million, Sweden with €2.6 million and Ireland with €1.21 million were the EU countries whose exports to Iran saw the highest YOY increase (447%, 61.05% and 35.61% respectively).

Finland with €105,469, Croatia with €444,367 and Portugal with €325,880 experienced the sharpest YOY decline in exports to Iran (96.68%, 66.05% and 61.42% respectively).