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Iran-EU trade falls 26% to €952m in H1 2026, Eurostat data shows
Trade between Iran and the European Union’s 27 member states fell 26% year-on-year to €952 million in the first half of 2026, according to data released by Eurostat, the statistical office of the European Commission, cited by Tasnim.
The figure compares with €1.287 billion in trade recorded between the two sides during the same period last year.
EU exports to Iran dropped 26% in January-June 2026, falling from €1.025 billion in the first half of 2025 to €754 million this year.
EU imports from Iran also declined, dropping 24% to €198 million during the first six months of 2026, compared with €262 million in the same period a year earlier.
Germany was Iran’s largest trading partner among EU member states in the first half of 2026, accounting for 32% of Iran’s total trade with the bloc.
Trade between Iran and Germany fell 36% year-on-year to €304 million during the period. German exports to Iran declined 41% to €212 million, while imports from Iran fell 18% to €92 million.
Despite tensions stemming from the US-Israeli war against Iran, the decline in trade does not appear to have been significantly linked to the conflict.
Eurostat data show that Iran-EU trade fell 27% following the US-Israeli attack on Iran in late February, reaching €574 million in March-June 2026, compared with €786 million in the same period a year earlier.
However, bilateral trade had already declined by around 24% during the first two months of 2026, before the conflict began. This suggests that the escalation of tensions, including those surrounding the Strait of Hormuz, did not significantly alter the existing trade trend.
Economic sanctions have been the main factor behind the decline, gradually weakening trade relations between Iran and the EU.