The trade exchanges between Iran and 27 EU member states, which had been €1.180 billion in the first quarter of 2023, hit €1.276 billion in the first quarter of 2024, showing an eight percent hike, Eurostat said.

 The 27 member states of the European Union exported €1.60 billion of products to Iran from January to March 2024, showing a 10 percent up compared to last year’s corresponding period.

The EU member states had exported €958 million of goods to Iran from March to January 2023.

According to the report, the EU member states imported €216 million of products from Iran between March and January 2024, showing a three percent decline compared to last year’s corresponding period.

They had imported €222 million of products from Iran between March and January 2023.

Germany, Italy and Romania were Iran’s largest trade partners in the first quarter of 2024.

Germany exported €343 million of products to Iran in the first quarter of 2024, showing an 18 percent up compared to the same period last year.

The Eurostat added that Germany imported €58 million worth of products from Iran between March to January 2024, showing a 23 percent down compared to last year’s corresponding period.