TEHRAN - The value of trade between Iran and the European Union (EU)’s member states reached €4.732 billion in 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 nine percent in 2023 in comparison to the preceding year when the figure stood at €5.244 billion.

As reported, the EU’s exports to Iran from January to December 2023 stood at €3.993 billion, registering a decrease of six percent compared to the same period of 2022 when the EU’s exports to Iran were reported to be €4.187 billion.

The European Union's imports from Iran also reached €799 million in 2023 with a 24 percent decrease compared to 2022. EU imported €1.057 billion of goods from Iran in January-December 2022.

According to Eurostat, Germany was Iran’s top trade partner in Europe in 2023. The country accounted for 36 percent of the Iran-EU total trade in 2023. The total trade between Iran and Germany reached €1.432 billion last year.

Germany exported €1.199 billion of goods to Iran and imported €233 million from Iran. German exports to Iran decreased by 24 percent and imports by 16 percent, year on year.

Italy and the Netherlands were the second and third biggest European trade partners of the Islamic Republic in the previous year.

Despite the decrease in Iran's trade with Germany, trade exchanges with Italy and the Netherlands increased last year. Iran's trade exchanges with Italy in 2023 increased by five percent compared to the previous year and reached €750 million.

Italy exported €600 million of goods to Iran in 2023, which has grown by nine percent compared to 2022. But the country’s imports from Iran decreased by seven percent and reached €150 million.

Iran's trade with the Netherlands also grew by 32 percent in 2023 and reached €587 million. The country’s exports to Iran stood at €542 million last year with a growth of 40 percent.

The Netherlands exported €389 million of goods to Iran in the previous year. However, the country’s imports from Iran faced a 19 percent decrease and reached €45 million.

Based on the Eurostat data, in 2023, Belgium and France were Iran's fourth and fifth trading partners in the European Union, respectively. The trade between Iran and France decreased by nine percent and reached €299 million in the mentioned year.

Last year, France exported €282 million of goods to Iran and imported €17 million worth of commodities from Iran.

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