Citing World Bank figures on a huge GDP fall 2017-20, Gholam-Hossein Shafei has said the government needs to revise policies to stimulate competition and encourage investment.
22 hours 45 min ago
Trade Between Iran and Europe Down to 20 Percent
Trade between Iran and the European Union in the first two months of 2019 has dropped to 756 million euros which shows a massive drop of 80 percent compared to last year. In January and February of 2018, trade between Iran and the EU was at 3.72 billion euros.
According to Eurostat, EU’s import from Iran in the first two months of 2019 has dropped to one-sixteenth of the same period last year, and exports of the 28 countries of this union have dropped more than half.
Exports of the EU to Iran has dropped from 1.563 billion euros in January and February of 2018 to 620 million in 2019. EU’s import from Iran has dropped to 136 million euros in the first two months of 2019 from 2.157 billion euros last year.
The heavy drop in imports is due to European countries refusing to buy oil from Iran after the U.S sanctions.
Iran is trying to create trade channels with European countries outside of the EU.
IRNA recently reported that Iraq, Saudi Arabia, and Turkey are taking over Iran’s share in the European market.
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