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Politics
2021-November-21  13:55

Iran Ups Exports to EU by 14 Percent in 9 Months despite US Sanctions

TEHRAN (FNA)- Iran’s exports to the European Union countries have increased remarkably in the three quarters to September this year despite sanctions, a new report said.

The value of Iranian shipments sent to the EU countries in January-September had reached 632 million euros, an increase of 14%  compared to the similar period in 2020, a report by the Tehran Chamber of Commerce  published on Saturday showed.

The surge came as imports from the EU into Iran had declined by 1% over the same period to stand at 2.072 billion euros, the report said.

Trade has continued between Iran and the EU despite growing financial and banking restrictions faced by traders because of a series of US sanctions.

In a relevant report it was announced in November 2020 that Iran’s exports to the European Union grew by 13% over nine months of 2020 compared to the previous year's corresponding period.

“Iran exported nearly €563 million of products to the EU in the nine-month period,” the report said on November 22, adding that the country’s imports from the bloc amounted to €2.78 billion indicating a 15% decline compared to the same period last year.  

According to the report the total trade between Iran and the EU reached €3.34 billion in the said period which shows an 11% decrease compared to last year’s figures.

Germany was the main destination of the Iranian products among the EU member states receiving some 36% of the Iranian exports to the bloc.