German exports to Iran soar in H1 2016
Official figures show that Germany’s exports to Iran soared in the first half of 2016 after a series of US-engineered sanctions that had been in place against the Islamic Republic for several years were eventually lifted.
Germany’s Federal Statistics Office said in an announcement that the country's exports to Iran over the period had seen a rise of 15 percent year-on-year.
This compares with a rise of 1.4 percent in overall German exports in the same period and a fall of 14 percent in German exports to Iran in 2015, Reuters reported.
The Federal Statistics Office further added that the total value of the exported items – that mostly included machines and equipment - stood at €1.13 billion.
"There is a huge demand in Iran for plant and equipment," Reuters quoted Michael Tockuss, the head of the German-Iranian Chamber of Commerce, as saying.
Tockuss added that exports of chemical products as well as electrical engineering were also doing well in the ongoing trade with Iran.
Earlier in May, figures show that German exports to Iran rose significantly in the first quarter following the removal of the sanctions.
Figures released by the Federal Statistics Office show that exports to Iran surged by 7 percent year-on-year in the January-March period to €500 million.
German Chambers of Commerce and Industry (DIHK) expects exports to Iran to reach €5 billion in the coming years and reach twice that figure in the long term.
Germany for decades had been Iran's biggest European trading partner. Almost immediately after the lifting of the sanctions against Iran in January, the German government sent Economy Minister Sigmar Gabriel to Tehran at the head of a major delegation to discuss post-sanctions business opportunities in the Islamic Republic.
This opened the way for future visits of trade delegations from Germany to Iran.
Iran reports slight increase in mining sector exports in April-October
Immunity of Iran’s shipping industry to illegal sanctions
Iran parliament committee approves to lower car import tariffs
Iran rejects UN human rights resolution as politically-motivated, unjustified
US Senate rejects bids to halt military sales to Israel
US veto of Gaza resolution 'license' for more Israeli crimes: Tehran
Iran urges IAEA Governors Board to oppose E3’s anti-Iran resolution
Nov. 20: ‘Axis of Resistance’ operations against Israeli occupation
VIDEO | Iran celebrates National Hero Day, honoring Martyr Qassem Soleimani
VIDEO | Ethiopia-Somalia tensions worsen following port deal signed between Addis Ababa, Somaliland leaders
VIDEO | Iran commemorates martyrs on National Heroes Day
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
