EU-Iran Foreign Trade in the first ten month of the year 2018 reached 17 billion Euro. The 28 EU countries exported goods worth € 8,029 bn to Iran and imported goods worth € 9.133 bn. As a result, trade balance between Iran and EU stood at € 1.104 bn in favor of Iran. Italy was the most important EU-trade partner of Iran, with a trade volume of 4,312 million Euro, followed by Germany (2,811 mn Euro), Spain (2,544 mn Euro) and France (2,366 mn Euro).
From January to October 2018 the European Union (EU28) export of goods to Iran stood at € 8,029 mn, a decrease of 4% compared with the first ten 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 €2,441 mn, that was 4% more than in the period of previous year. Second (18%) was Italy with exports worth € 1,480 mn (+7%), followed by France (€ 839 mn, -29%), the Netherlands (€ 670 mn, +3%) and Spain (€ 529 mn, +61%).
From January to October 2018 the 28 EU countries imported goods worth € 9,133 mn from Iran, (an increase of 11% 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 € 2,832 mn from Iran (+10%) followed by Spain (€ 2,015 mn, +74%), France (€ 1,527 mn, -24%), Greece (€ 1,164 mn, +10%), Austria (€ 451, +296%) and Germany (€ 370 mn, 21%).