Pandemic, sanctions hit EU’s exports to Iran as imports surge: Report
The spread of the coronavirus pandemic and new US sanctions caused a drop in trade between Iran and the European Union countries in the first seven months this year although Iran sent more shipments the EU over the same period, shows a new report.
The report published Thursday by Tehran chamber of commerce (TCCIMA) said that imports from the EU fell by over 11 percent compared to January-July 2019 to stand at €2.209 billion in value terms.
The report said, however, that Iranian exports to the EU were up nearly five percent at €440 million although non-oil exports had declined by 11 percent over the period.
Germany remained Iran’s top trading partner in the EU region and was responsible for nearly 41 percent of all Iran-EU exchanges worth €2.649 billion reported over the seven months to July, it said, adding that trade with Germany and the Netherlands grew against a decline recorded in exchanges with France and Italy.
April was the worst month on record for Iran-EU trade as pandemic restrictions in both Iran and across the EU caused a decline in exchanges, showed the figures by the TCCIMA.
Iran’s imports from the EU reached its lowest point in July with a 29-percent decline year on year, said the report, adding that trade boomed significantly in January before the pandemic and fresh round of American sanctions imposed on Iran caused a visible decline in the value and volume of the shipments.
Trade between Iran and the EU has been flowing despite a raft of sanctions imposed by the US which seek to cut Iran’s economic relations with the rest of the world, especially with US allies in Europe.
Chabahar is for ‘everyone's benefit’: India downplays US sanctions threat over Iran deal
US warns of sanctions after India, Iran sign landmark port deal
Iran, India sign 10-year deal to develop Chabahar Port
Iran plans to increase defense exports by 50%: Official
‘Israel on losing end in Gaza war’: Ex-Mossad deputy chief
New Caledonia unrest: Death toll rises to six as France deploys more troops
Fighting rages in Rafah amid intensified Israeli bombardments
VIDEO | Clashes in Paris as firefighters unions protest working conditions
US lawmakers pass bill to overturn halt to arms transfer to Israel
More than half of US states join campus movement
Over 600 mosques destroyed in Israeli strikes on Gaza since Oct.
This makes it easy to access the Press TV website
