EU-Iran Foreign Trade in the first seven month of the year 2018 reached 12.5 billion Euro. The 28 EU countries exported goods worth € 5.338 bn to Iran and imported goods worth € 7.181 bn. As a result, trade balance between Iran and EU stood at € 1.843 bn in favor of Iran. Italy was the most important EU-trade partner of Iran, with a trade volume of 2,943 million Euro, followed by France (1,983 mn Euro), Spain (1,845 mn Euro) and Germany (1,810 mn Euro).
From January to July 2018 the European Union (EU28) export of goods to Iran stood at € 5,338 mn, a decrease of 8% compared with the first seven 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 €1,533 mn, that was 6% less than in the year before period. Second (18%) was Italy with exports worth € 953 mn (-6%), followed by France (€ 531 mn, -38%) and the Netherlands (€ 443 mn, +11%).
From January to July 2018 the 28 EU countries imported goods worth € 7,181 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 € 1,990 mn from Iran (+12%) followed by Spain (€ 1,484 mn, +102%), France (€ 1,452 mn, -2%), Greece (€ 1,029 mn, +34%) and Germany (€ 277 mn, 30%).