TEHRAN - The value of trade between Iran and the European Union reached €2.55 billion in the first six months of 2022, registering a 34 percent growth compared to the previous year’s same period.

According to the data released by the European Union's statistics office, Eurostat, the trade between Iran and the European Union stood at €1.9 billion in the first half of 2021, IRNA reported.

Iran exported €550 million worth of commodities to the union during January-June 2022 to register a 37 percent rise year on year; the figure stood at €400 million in the previous year’s same six months.

Based on the mentioned data, the exports from Europe to the Islamic Republic in the said time span also increased by 33 percent, standing at €2 billion. Iran had imported €1.5 billion worth of commodities from the European Union states in H1 2021.

Among European countries, Germany was Iran's top trading partner in the said six months, accounting for about a third of Iran's trade with the European Union. Germany exported €799 million worth of goods to Iran while importing €151 million worth of commodities from the Islamic Republic. The country's total trade with Iran was €950 million in the first half of the current year.

Iran mainly exports foodstuff and livestock, beverages and tobacco, raw materials, mineral fuels, and vegetable oils to the European countries, while foodstuff, beverages and tobacco, mineral fuels, vegetable oils, and chemicals are also the main products imported from the union.

According to Eurostat, the value of trade between Iran and the European Union reached €2.075 billion in January-May 2022, while the figure was €1.845 billion in the same period of time in 2021.

Iran exported commodities worth €465 million to the union in the five-month period of this year, to register a 33 percent rise year on year.

The EU’s export to Iran rose six percent to €1.61 billion from €1.512 billion.

EF/MA