Iran, EU Boost Trade over 30%

Eurostat, the EU’s statistics agency, reported that trade between Iran and the EU in the first 9 months of 2022 rose to $3.947 billion which shows a 30% increase compared to the same period last year.

It added that imports by 27 EU countries from Iran rose by 28% over the nine months to September against the same period in 2021 to reach $799 million.

They showed that EU exports to Iran also rose 31% over the same period to top $3.148 billion.

EU’s imports from Iran in September reached a total of $72 million, up from $68 million reported in September 2021.

Exports by EU countries to Iran rose from $308 million reported in September last year to $472 million in the same month this year.

The rising trade between Iran and the EU has come despite continued restrictions on banking ties between the Iranian and European businesses due to the US sanctions on Iran.

Earlier reports this month also said that Iran's trade (excluding crude oil exports) with Caspian Sea littoral states reached 4.06 million tons worth $2.21bln during the first 7 months of the current Persian calendar year (started on March 21), showing over 23% growth in value.

Iran’s Customs Administration announced that the country’s Iran's trade (excluding crude oil exports) with Caspian Sea littoral states reached 4.06 million tons worth $2.21 billion in the first seven months of the current fiscal year (March 21-Oct. 22), registering a 2.26% decrease in terms of weight, but a 23.25% increase in terms of value year-on-year.

Russia was Iran’s main trading partner among Caspian states with 2.3 million tons worth $1.32 billion during the period under review followed by Azerbaijan Republic with 459,974 tons worth $443.31 million, Turkmenistan with 797,977 tons worth $268.07 million, and Kazakhstan with 508,724 tons worth $181.28 million.

Iran’s exports exceeded 2.28 million tons worth $1.16 billion during the period, registering a 6.7% and 36.22% rise in terms of weight and value year-on-year, respectively.

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