EU-Iran Foreign Trade in the first eight month of the year 2018 reached 14.3 billion Euro. The 28 EU countries exported goods worth € 6.198 bn to Iran and imported goods worth € 8.106 bl. As a result, trade balance between Iran and EU stood at € 1.908 bn in favor of Iran. Italy was the most important EU-trade partner of Iran, with a trade volume of 3,438 million Euro, followed by Spain (2,754 mn Euro), France (2,202 mn Euro) and Germany (2,107 mn Euro).
From January to August 2018 the European Union (EU28) export of goods to Iran stood at € 6,198 mn, a decrease of 7% compared with the first eight month in 2017. According to the latest (preliminary) data by Eurostat, the statistical office of the European Union, 29% of the EU-exports to Iran came from Germany, which delivered goods worth €1,794 mn, that was 5% less than in the year before period. Second (18%) was Italy with exports worth € 1,094 mn (-5%), followed by France (€ 680 mn, -27%), the Netherlands (€ 545 mn, +9%) and Spain (€ 412 mn, +63%).
From January to August 2018 the 28 EU countries imported goods worth € 8,106 mn from Iran, (an increase of 24% compared with the same period of 2017). With the removal of most of the sanctions at the end of January 2016, Iran again started the export of oil to Europe. That is the reason for the high growth rates in Iranian exports to some EU countries. Major Iranian exports to the European Union go to Italy, which imported goods worth € 2,344 mn from Iran (+18%) followed by Spain (€ 1,797 mn, +107%), France (€ 1,522 mn, -6%), Greece (€ 1,093 mn, +24%), Austria (€ 323, +191%) and Germany (€ 313 mn, 31%).