EU-Iran Foreign Trade in the first nine month of the year 2018 reached 15.4 billion Euro. The 28 EU countries exported goods worth € 6.893 bn to Iran and imported goods worth € 8.550 bn. As a result, trade balance between Iran and EU stood at € 1.657 bn in favor of Iran. Italy was the most important EU-trade partner of Iran, with a trade volume of 3,802 million Euro, followed by Germany (2,385 mn Euro), Spain (2,339 mn Euro) and France (2,259 mn Euro).
From January to September 2018 the European Union (EU28) export of goods to Iran stood at € 6,893 mn, a decrease of 8% compared with the first nine month in 2017. According to the latest (preliminary) data by Eurostat, the statistical office of the European Union, 30% of the EU-exports to Iran came from Germany, which delivered goods worth €2,043 mn, that was 4% less than in the period of previous year. Second (17%) was Italy with exports worth € 1,196 mn (-5%), followed by France (€ 735 mn, -31%), the Netherlands (€ 605 mn, +9%) and Spain (€ 471 mn, +70%).
From January to September 2018 the 28 EU countries imported goods worth € 8,550 mn from Iran, (an increase of 18% 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 € 2,606 mn from Iran (+18%) followed by Spain (€ 1,868 mn, +94%), France (€ 1,524 mn, -19%), Greece (€ 1,095 mn, +19%), Austria (€ 377, +235%) and Germany (€ 342 mn, 21%).