German Exports to Iran Surge

By John Lee.

German exports to Iran have risen significantly in the first quarter.

Government data showed an increase of 7 percent year-on-year for January-March, reaching 500 million euros (380 million pounds), reported Reuters.

Michael Tockuss (pictured), head of the German-Iranian Chamber of Commerce, told Reuters:

“Machines and equipment are doing exceptionally well, but also grain and wheat.”

He added that German exports to Iran could reach 2.5-3 billion euros this year, up from 2 billion euros in 2015.

Germany’s Chambers of Commerce and Industry (DIHK) expects exports to Iran to reach 5 billion euros in the coming years and reach twice that figure in the long term.

For decades before sanctions were imposed, Germany was Iran’s biggest trading partner.

(Source: Reuters)

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