EU-Iran Foreign Trade in the first five month of the year 2018 reached 8.7 billion Euro. The 28 EU countries exported goods worth € 3.8 bn to Iran and imported goods worth € 4.9 bn. As a result, trade balance between Iran and EU stood at € 1.1 bn in favor of Iran. Italy was the most important EU-trade partner of Iran, with a trade volume of 2,181 million Euro, followed by France (1,231 mn Euro), Spain (1,227 mn Euro) and Germany (1,224 mn Euro).
From January to May 2018 the European Union (EU28) export of goods to Iran stood at € 3,800 mn, a decrease of 6% compared with the first five month of 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 €1,086 mn, that was 4% less than in the first five month of 2017. Second (18%) was Italy with exports worth € 673 mn (2%), followed by France (€ 402 mn, -42%) and the Netherlands (€ 332 mn, 38%).
From January to May the 28 EU countries imported goods worth € 4,901 mn from Iran, (an increase of 24% compared with the first five month 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 € 1,508 mn from Iran (+30%) followed by Spain (€ 978 mn, +104%), France (€ 829 mn, -18%), Greece (€ 771 mn, +63%), the Netherlands ( € 224 mn, -39%) and Germany (€ 138 mn, -5%).