German exports to Iran rose by 32.7 percent in the first eight months of 2014. Reuters reports that according to German statistics, exports to Iran from Germany reached 1.6 billion euros in the first eight months of 2014.
In 2013, at the height of the sanctions against Iran, German exports to Iran fell by 26 percent, and the previous year had seen an 18-percent slump.
Iran is in negotiations with world powers to lift the current international sanctions. At this point, the talks have been extended to the end of this month, and one of the remaining contentious issues is how and when to lift those sanctions.
A preliminary agreement last November led to a marginal easing of sanctions, which has prompted several European countries to resume business with Iran.
Jens Nagel of the BGA exporters and wholesalers association told Reuters: “The German economy especially could profit from a relaxation [of the sanctions]” because of the high demand in Iran for German machinery, vehicles and chemicals.
Germany traditionally has been Iran’s most important trading partner. Germany’s export-oriented economy has been hit by the soft European market and the plunge in exports to Russia due to recent sanctions imposed because of the crisis in Ukraine.
