News ID: 193079
Published: 0713 GMT May 19, 2017

Statistics center: Italy is Iran's top EU trade partner

Statistics center: Italy is Iran's top EU trade partner

A statistics center has designated Italy as Iran's top trade partner among EU member states in the first quarter of 2017.

According to the EU Statistics Center, trade exchanges between Iran and Italy in the three-month period hit €1.2 billion, with €800 million pertaining to Iran's exports to Italy and €400 million to its imports from the country, IRNA reported.

Italy is Iran's first trade partner with France and Germany ranking second and third respectively.

Iran's trade with the EU has considerably increased over the past two years, especially its exchanges with Italy which has been grown by 200 percent.

Over the past ten years, trade balance between the two countries has always been in favor of Italy, but in the first quarter of 2017 it turned positive in favor of Iran.

Iran is considered a golden opportunity for European industries seeking new markets.

Until last year, Germany was Iran's top trade partner in Europe, with Italy ranking second.

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