9% drop in trade between Iran and the European Union
During the first 7 months of 2020, trade between Iran and the European Union amounted to 2 billion and 649 million euros, which has decreased by more than 9% compared to the same period in 2019.
According to the International Iranian Stone Exhibition, the Vice President for Chamber of Commerce has reviewed the trade process between Iran and the European Union in a report. According to this report; During the first seven months of 2020, trade between Iran and the European Union amounted to two billion six hundred and forty-nine million euros, which has decreased by more than nine percent compared to the same period in 2019. During these seven months, only in January, Iran's trade with twenty-seven EU countries was at a significantly higher level than the same month in 2019.
In the following months, due to the widespread outbreak of the corona and the intensification of sanctions against Iran, Iran's trade with this region has been at a lower level than the same period in 2019.
The lowest volume of Iran's trade with the European Union in the seven months of 2020 is related to April and the highest is related to June. The largest monthly decrease in Iran's trade with this region occurred in July with a decrease of about 20% in the value of foreign trade.
Iran's exports to the European Union
Iran's exports to the European Union in the seven months to July 2020 amounted to about four hundred and forty million euros, which is an increase of nearly five percent compared to the same period in 2019. During these seven months; In the first two months, Iran's exports to Europe increased compared to the same month in 2019, but then until June, it was at a lower level than in 2019. However, in July, Iran's exports increased by more than fifty-two percent compared to the same period in 2019.
The lowest value of Iran's exports to the European Union in the seven months of 2020 is related to April and the highest is related to July. The largest monthly decrease in the value of Iran's exports to this region occurred in April with about sixty-five percent.
Iran's non-oil exports
The trend of Iran's non-oil exports to the European Union during the seven months of 2020 and 2019 is almost the same as the trend of total exports of goods. During the seven months of 2020, Iran's non-oil exports have decreased by about eleven percent compared to the same period in 2019.
The highest value of Iran's non-oil exports to the European Union was in January 2020 with seventy-six million euros and the lowest level in April of this year was 19.8 million euros.
Iran imports from the union
During the first seven months of 2020, the value of Iran's imports from the European Union was two billion and two hundred and nine million euros, which is accompanied by a decrease of more than eleven percent compared to the same period last year.
During this period, except for January, in other months, the value of Iran's imports from the European Union in 2020 is lower than in 2019. The trend of Iran's imports from the European Union during the first seven months of 2020 has been almost constant despite slight fluctuations.
The largest monthly decrease in the value of Iran's imports from this region occurred in July 2020 with a decrease of about twenty-nine percent.
Five major partners
During the first seven months of 2020, among the EU member states, Iran had the highest value of trade with Germany. About forty-one percent of the total value of Iran's trade with the European Union during this period belongs to Germany.
Italy, the Netherlands, Spain and France are Iran's other major trading partners in the European Union, accounting for 15% and 11%, 6% and 6% of Iran's total trade value with the region, respectively. During the first seven months of 2020, the value of Iran's trade with Germany and the Netherlands increased compared to last year; In Italy and France, however, the value of trade has declined and has not changed in Spain.
Iran's trade with France has decreased by about 37% compared to the same period in 2019, which is the largest decline among EU member states.
* ILNA
