Page 25 - IRANRptDec21

5.1.2 Import/export dynamics
1Q-3Q trade between Iran and EU edges up 2% y/y to €3.4bn
Iran’s non-oil export value up 42% in first eight Persian months with petrochemicals a huge contributor
Trade between Iran and the European Union—still heavily constrained by US sanctions—edged up by 2% y/y to a value of €3.4bn during the first nine months of this year, according to data released by the Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA). Iran’s exports were valued at €554mn (up 14% y/y), while imports from the bloc were recorded at €2.7bn (down 0.6%).
Foodstuffs and livestock, beverages and tobacco, raw materials, mineral fuels and vegetable oils were the main commodities Iran exported to EU member states. Foodstuffs, beverages and tobacco, mineral fuels, vegetable oils and chemicals accounted for the largest share of goods traded in the other direction.
Germany, Italy and Spain were the main export destinations for Iranian goods in the European bloc, TCCIMA said, adding that Germany, Spain and the Netherlands were the top exporters to Iran among the EU nations.
Iran’s non-oil export value grew 42% in the first eight months of the current Persian calendar year (March 21-November 21) to $31.1bn, according to figures from the country’s customs administration, IRICA, released by its head Mehdi Mir Ashrafi on November 27.
Petrochemicals accounted for 43% of the export value, the data showed. However, Iran recorded a trade deficit of $900mn in the period, with imports topping $32bn, marking an increase of 38% y/y.
The largest export destination was China at $9.1bn of purchases, followed by
25 IRAN Country Report December 2021 www.intellinews.com