Report: Exports to EU Grow Despite Virus, Sanctions
TEHRAN (Dispatches) - Tehran Chamber of Commerce (TCCIMA) has reported that exports of Iranian products to the European Union countries increased in the 7 months of this year in spite of the coronavirus outbreak and sanctions illegally imposed by the U.S., though the EU imports to Iran have declined during the same period.
The report published indicated that imports from the EU fell by over 11% compared to January-July 2019 to amount to €2.209 billion in value terms.
The report added, however, that Iran’s exports to the EU were up nearly 5% at €440 million although non-oil exports had dropped by 11% over the period.
Germany remained Iran’s top partner in the EU region doing approximately 41% of all Iran-EU exchanges worth €2.649 billion reported over the seven months to July, it showed, adding that trade with Germany and the Netherlands grew against a decline recorded in exchanges with France and Italy.
April was the worst month on record for Iran-EU trade as virus-related restrictions in both Iran and across the EU caused a decline in exchanges, the report showed.
Iran’s imports from the EU reached its lowest point in July with a 29% decline year on year, said the report, adding that trade surged significantly in January before the disease outbreak and fresh round of American sanctions illegally imposed on Iran caused a notable plummet in shipments both in terms of value and volume.
The report published indicated that imports from the EU fell by over 11% compared to January-July 2019 to amount to €2.209 billion in value terms.
The report added, however, that Iran’s exports to the EU were up nearly 5% at €440 million although non-oil exports had dropped by 11% over the period.
Germany remained Iran’s top partner in the EU region doing approximately 41% of all Iran-EU exchanges worth €2.649 billion reported over the seven months to July, it showed, adding that trade with Germany and the Netherlands grew against a decline recorded in exchanges with France and Italy.
April was the worst month on record for Iran-EU trade as virus-related restrictions in both Iran and across the EU caused a decline in exchanges, the report showed.
Iran’s imports from the EU reached its lowest point in July with a 29% decline year on year, said the report, adding that trade surged significantly in January before the disease outbreak and fresh round of American sanctions illegally imposed on Iran caused a notable plummet in shipments both in terms of value and volume.