(MENAFN) According to data released by the European Union's statistics office Eurostat, trade between Iran and the European Union (EU) member states witnessed a significant surge in February, reaching €847 million, marking a substantial 30 percent increase compared to the same period last year.
In February 2023, the trade volume between Iran and the EU stood at €780 million. The surge in trade was evident in both directions, with the EU's exports to Iran totaling €392 million, a notable 32 percent increase from February 2023, when exports amounted to €297 million.
Similarly, the EU's imports from Iran surged to €76 million in February 2024, reflecting a 24 percent increase compared to the same month in 2023, when imports were recorded at €61 million.
Germany emerged as Iran's leading trade partner within the EU in February, with exports totaling €141 million and imports at €19 million. While German exports to Iran saw a remarkable 46 percent increase year-on-year, imports remained relatively stable.
Previously, in January, trade between Iran and the EU reached €380 million, representing a 10 percent decline compared to January 2023, when the figure stood at €424 million. This decrease was primarily attributed to a drop in EU exports to Iran, which totaled €311 million, down by nine percent from January 2023.
Similarly, imports from Iran declined to €69 million in January 2024, a 15 percent decrease compared to the same period in 2023, when imports amounted to €80 million. Once again, Germany emerged as the top trade partner, contributing significantly to the Iran-EU trade, accounting for 38 percent of the total trade volume in January.
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