Trade between Iran, EU surges by 5 percent in first 11 months of 2024
Date
1/22/2025 2:40:43 AM
(MENAFN) According to Eurostat data, trade between Iran and the European Union decreased by three percent during the first eleven months of 2024 compared to the same period the previous year. The total trade volume between the two parties amounted to €4.15 billion from January to November 2024, showing a decline from the previous year’s figures. European exports to Iran stood at €3.37 billion, marking a four percent drop, while Iranian exports to Europe rose by five percent, reaching €773 million.
In November 2024, the total trade between Iran and the EU amounted to €377 million, reflecting a significant 19 percent decline from €467 million in November 2023. European exports to Iran saw a sharp decrease of 22 percent, dropping from €383 million to €299 million. On the other hand, Iranian exports to Europe grew by seven percent, increasing from €84 million to €78 million compared to November of the previous year.
The primary goods that Iran exported to the EU were food and livestock products, which saw a 20 percent rise in exports, totaling €270 million. In contrast, the main category of European exports to Iran was vehicles and industrial machinery, which experienced a seven percent decline, amounting to €1.18 billion.
Germany continued to be Iran's leading trading partner in Europe, followed by Italy, the Netherlands, and Belgium. These nations played key roles in facilitating the flow of goods between the two regions, with Germany maintaining its dominant position in bilateral trade.
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