The value of trade between Iran and the member states of the European Union (EU) has reached €1.18 bn in the first three months of 2023, according to data released by the European Union’s statistics office Eurostat.
According to the Eurostat, exports by the Netherlands, Italy and France to Iran increased respectively by 63%, 24%, and 17% over the March quarter.
The figures showed that trade between Iran and 27 EU member states decreased by 11% in the first quarter of 2023, compared with the same period last year.
EU’s exports to Iran from January to March 2023 reached €960 million, a fall of 9% compared with the same period of the previous year, according to the Eurostat figures.
The data showed that EU’s imports from Iran reached €220 million in March quarter, down 20% from the same period last year.