The value of trade between Iran and the European Union (EU)’s member states reached €380 million in January, according to the data released by the European Union's statistics office Eurostat.

According to The Iran Project,Based on the Eurostat data, the trade between the two sides fell 10 percent in the first month of the current year in comparison to the preceding year’s same month when the figure stood at €424 million.

As reported, the EU’s exports to Iran in January stood at €311 million, registering a decrease of nine percent compared to the same month in 2023 when the EU’s exports to Iran were reported to be €344 million.

The European Union's imports from Iran also reached €69 million in the mentioned month with a 15 percent decrease compared to 2023. EU imported €80 million of goods from Iran in January 2023.

According to Eurostat, Germany was Iran’s top trade partner in Europe in January. The country accounted for 38 percent of the Iran-EU total trade in the said month. The total trade between Iran and Germany reached €119.7 million in the first month of 2024.

Germany exported €100 million of goods to Iran and imported €19.7 million from Iran. German exports to Iran didn’t change much but imports decreased by 26 percent, year on year.

The exports from some other European countries to Iran, however, increased significantly in January 2024. Spain's exports to Iran this month experienced a 62 percent growth compared to the same period last year and increased from €15.4 million in January 2023 to €25 million in January this year.

Italy's exports to Iran also increased by 13 percent and reached €43.9 million. Italy had exported €38.8 million of goods to Iran in January 2023.

While Germany's imports from Iran decreased by 26 percent in January, Greece's imports from Iran tripled and reached €2.3 million. Dutch imports from Iran have also almost doubled, from €3.5 million in January 2023 to €6.8 million in January this year.

Romania's imports from Iran also increased by 47 percent to €3.4 million, and Italy's imports by two percent to €12.2 million.

As previously announced by Eurostat, trade between Iran and the EU stood at €4.732 billion in 2023.

Based on the Eurostat data, the trade between the two sides fell nine percent in 2023 in comparison to the preceding year when the figure stood at €5.244 billion.

The EU’s exports to Iran from January to December 2023 stood at €3.993 billion, registering a decrease of six percent compared to the same period of 2022 when the EU’s exports to Iran were reported to be €4.187 billion.

The European Union's imports from Iran also reached €799 million in 2023 with a 24 percent decrease compared to 2022. EU imported €1.057 billion of goods from Iran in January-December 2022.

According to Eurostat, Germany was also Iran’s top trade partner in Europe in 2023. The country accounted for 36 percent of the Iran-EU total trade in 2023. The total trade between Iran and Germany reached €1.432 billion last year.