Tehran - Trade between Iran and Germany grew by four percent in 2024, reaching €1.5 billion, following a sharp decline in 2023, when bilateral trade fell to its lowest level in 25 years.

 

According to the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), citing data from the German Federal Statistical Office, trade between the two countries increased from €1.45 billion in 2023 to €1.5 billion in 2024. German exports to Iran rose by six percent to €1.28 billion, while Iranian exports to Germany declined by eight percent to €226 million, Tehran Time reported.

 

Data for December 2024 shows that bilateral trade for the month reached €134 million, marking a one percent increase compared to December 2023. German exports during the month totaled €116 million, up six percent while Iranian exports fell by 26 percent to €17 million.

 

Under the Standard International Trade Classification (SITC), Germany’s top export to Iran in 2024 was automobiles and industrial machinery, valued at €520 million, followed by chemicals and related products at €440 million. Imports of these two categories into Iran grew by one percent and 14 percent, respectively. Meanwhile, Germany’s food exports to Iran fell by 14 percent.

 

Iran’s top export to Germany in 2024 was food and livestock, valued at €107 million, representing a 23 percent increase from the previous year. In contrast, exports of non-food, non-fuel raw materials declined by 25 percent to €60 million.