Continued Growth in Trade Between Iran and Germany

Continued Growth in Trade Between Iran and Germany

The trade relationship between Iran and Germany maintained its upward trajectory from January to July 2024, with the total trade volume reaching €888 million, marking a 9% increase compared to the same period in 2023.

In the first seven months of 2024, goods worth €888 million were exchanged between the two countries, a significant rise from €815 million during the same timeframe in 2023. German exports to Iran accounted for the largest portion of this trade, totaling €750 million, a 12% increase year-on-year. In contrast, Iran’s exports to Germany saw a decline, totaling €139 million, representing a 9% drop compared to the previous year.

July 2024 saw a particularly notable rise in trade activity, with a total volume of €135 million, representing an 18% increase compared to July 2023. German exports surged by 17%, while Iranian exports experienced an even sharper growth, rising by 27% compared to the same month last year.

Among Iran’s exports to Germany, the most significant growth was seen in food and live animals, with exports increasing by 26% over the same period last year, rising from €52 million in 2023 to €65 million in 2024. On the other hand, Germany's largest exports to Iran during this period were Machinery and transport equipment, which saw an increase of 9%, rising from €249 million in 2023 to €305 million in 2024.