TEHRAN - The value of trade between Iran and the European Union (EU)’s member states reached €3.761 billion in the first 10 months of 2023, according to the data released by the European Union's statistics office Eurostat.

Based on the Eurostat data, the trade between the two sides fell 13 percent in the said 10 months in comparison to the preceding year’s same period when the figure stood at €4.367 billion.

According to Eurostat, Germany accounted for 31 percent of the Iran-EU total trade in the first 10 months of 2023. The total trade between Iran and Germany reached €1.168 billion in this period.

As reported, the EU’s exports to Iran from January to October 2023 stood at €3.114 billion, registering a decrease of 10 percent compared to the same period of 2022 when the EU exports to Iran were reported to be €3.478 billion.

The European Union's imports from Iran also reached €647 million in the first 10 months of 2023 with a 27 percent decrease compared to the same period of 2022. EU imported €889 million of goods from Iran in January-October 2022.

As previously announced by Eurostat, the value of Iran’s exports to the European Union’s member states rose 15 percent in 2022, as compared to the previous year.

The Eurostat’s data show that Iran exported commodities worth €1.055 billion to the union in 2022, while the figure was €922 million in 2021.

The EU’s exports to Iran also rose seven percent to €4.183 billion from €3.931 billion.

According to the Eurostat, the total value of trade between Iran and the European Union reached €5.238 billion in January-December 2022, while the figure was €3.931 billion in 2021.

Among European countries, Germany was Iran's top trading partner in 2022, accounting for about 35 percent of Iran's trade with the European Union. Germany exported €1.582 billion worth of goods to Iran while importing €278 million worth of commodities from the Islamic Republic. The country's total trade with Iran was 1.860 billion euros.

EF/MA