TEHRAN – Trade value between Iran and the 28-member EU has amounted to €4.938 billion in the first eight months of 2015, up 7 percent from €4.64 billion reported for the same expansion in 2014.

Reported figures by the EU statistics agency Eurostat show that Iran’s exports to EU members are three times as much as its imports from them in the analyzed time span.

The trade picture, however, makes more sense once Iran-EU trade value is looked into over a wider time scope.

Bilateral trade value, for example, spiked to a high of 20 percent in 2014 from a 47 percent slump in 2013.

Further, according to the report, in the time between January to August, EU members have imported goods worth €813 million from Iran, up 18 percent from €690 million in 2013 in the year-on-year outlook.

Exports by EU members to Iran has risen by 5 percent at €4.17 billion in the first eight months of 2015 from €3.95 billion in 2014 in the same period of time last year.

The worth of EU states’ imports from Iran amounted to €730 million during January-July of 2015, showing 28 percent rise from €567 million in the seven-month period last year.

AK/