Wednesday, 15 January, 2020

Iran-EU trade witnesses five-fold increase in first four months

The volume of trade between Iran and the European Union (EU) has experienced a five-fold increase over the first four months of 2017, Press TV reported on Sunday.

The value of Iran’s non-oil exports to the EU reached as high as 3.4 billion euros (3.8 billion U.S. dollars), a five-fold increase from the same period last year, the report said.

Industrial goods such as hot-rolled non-alloy iron, steel, condensate, light oils and methanol were on top of Iran’s exports to the EU.

At the same period, EU exports to Iran rose by 44 percent from January to April to 3.1 billion euros (3.46 billion U.S. dollars), according to the report.

Major goods in the EU exports to Iran include machineries, pharmaceuticals, medical devices, transportation equipment and plastic products.

Germany, Spain, France, Greece and Italy are major trade partners of Iran in Europe, the report added.

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