Iran says imports from Germany up 25%

Iran’s official figures show that the country’s imports from Germany have increased by a quarter in what could be a fresh indication of growing opening in Iran’s post-sanctions business environment, Vestnik Kavkaza reported.

Figures released by the Customs Administration of Iran showed that the country imported $1.27 billion worth of goods from Germany over a period of seven months starting 21 March 2016 – the start of the current Iranian calendar year of 1395.   

This shows an increase of around 25 percent compared to the same period last year.  It also shows that Germany is now the fifth main exporter to Iran and the leading European country with a significant level of trade activities with the Islamic Republic.  

The top four exporters to Iran – as figures relating to the same seven-month period showed – are China ($5.71 billion), the UAE ($4.98 billion), South Korea ($1.88 billion) and Turkey ($1.55 billion), figures released by the Customs Administration of Iran showed. 

The top importers of Iranian non-oil commodities and services over the same period have been China ($4.43 billion), the UAE ($3.88 billion), Iraq ($3.50 billion), Turkey ($2.50 billion) and South Korea ($1.95 billion). 

A majority of Iran’s exported items are downstream products such as condensate, liquefied petroleum gas, gas oil, propane and others.

Key items imported during the period have been cattle feedstock, soy, rice, auto spare parts and vehicles. 

Figures released by Iran’s Customs Administration last month showed that the country’s non-oil exports to Europe for a period of five months starting 21 March 2016 had increased by 21 percent. Top importers were accordingly identified as Italy, Spain and Germany.