EU-Iran Foreign Trade in the first six month of the year 2018 reached 10.7 billion Euro. The 28 EU countries exported goods worth € 4.566 bn to Iran and imported goods worth € 6.110 bn. As a result, trade balance between Iran and EU stood at € 1.644 bn in favor of Iran. Italy was the most important EU-trade partner of Iran, with a trade volume of 2,560 million Euro, followed by France (1,601 mn Euro), Spain (1,542 mn Euro) and Germany (1,482 mn Euro).
From January to June 2018 the European Union (EU28) export of goods to Iran stood at € 4,566 mn, a decrease of 8% compared with mid-year 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 €1,307 mn, that was 6% less than at mid-year of 2017. Second (17%) was Italy with exports worth € 781 mn (-8%), followed by France (€ 459 mn, -40%) and the Netherlands (€ 390 mn, +11%).
From January to June the 28 EU countries imported goods worth € 6,110 mn from Iran, (an increase of 23% compared with the first half 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 € 1,779 mn from Iran (+15%) followed by Spain (€ 1,233 mn, +106%), France (€ 1,142 mn, -8%), Greece (€ 963 mn, +51%), the Netherlands ( € 246 mn, -41%) and Germany (€ 175 mn, -5%).