Iran-EU Trade Turnover Jumps by 265% in 3 Months

The total value of trade exchange between Iran and the 28-nation European Union (EU) over the first three months of 2017 has increased by 265 percent, a report released by the statistical office of the EU, Eurostat, showed.

The total trade between Iran and the EU in the first three months of the current year amounted to €5.3 billion, showing a 265 percent increase compared to the same period in 2016, according to the report.

The value of Iran-EU bilateral trade in the corresponding period last year stood at €2 billion, the Eurostat data revealed.

The Iranian exports to the EU nations have also hit a record high from January to March 2017, increasing by seven times, compared to a year earlier.

The exports amounted to €2.77 billion, while in 2016, the figure had stood at €396 million, the report said.

The Iranian imports from the EU during the mentioned time have also increased by 57 percent compared to the same period last year, reaching €2.53 billion.

According to the report, the figure had stood at €1.604 billion in the first three months of 2016.

(Source: Tasnim, under Creative Commons licence)

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