Foreign
German exports to Iran increased significantly at the beginning of the year, in spite of stricter sanctions imposed on Tehran due to its support for Russia in the Ukraine war.
From January to February, exports grew by 22 per cent to 241 million euros (257 million U.S. dollars), the Federal Statistical Office reported on Thursday.
Imports fell by more than 13 per cent to 41.2 million euros.
At the beginning of the year, mainly machinery as well as chemical and pharmaceutical products were exported from Germany to Iran.
The main imports from Iran in January and February were foodstuffs, especially pistachios, and textiles such as carpets.
Still, in terms of exports, Iran ranked 64th among the most important trading partners for German from January to February,
placing it behind Colombia and ahead of North Macedonia.
In terms of imports, Iran was ranked 91st.
There are severe restrictions on foreign trade with Iran in the EU.
Sanctions were last tightened in July 2023 due to Iran’s support for Russia’s war against Ukraine.
In 2023, German exports to Iran fell by almost a quarter to 1.2 billion euros.
From 2019 to 2022, Germany still exported goods worth 1.5 euros to 1.6 billion euros to Iran each year.
Exports had previously slumped by 43.9 per cent from 2.7 billion euros in 2018 to 1.5 billion euros in 2019 after the U. S. withdrew from the nuclear agreement with Iran and imposed new sanctions. (dpa/NAN)
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-April 18, 2024 @ 14:40 GMT|
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