EghtesadOnline: Iran traded 4.19 million tons of non-oil commodities worth $6.27 billion with EU4 during the last Iranian fiscal year (ended March 20) to register 21.8% and 24.24% decline in tonnage and value respectively compared to the year before.
The EU4, also known as “Big Four” or G4, refers to France, Germany, Italy and the United Kingdom. The major western European powers are individually represented as full members of G7, G8, G-10 and G20.
The term G4 was used for the first time when French President Nicolas Sarkozy called for a meeting in Paris with Italian Prime Minister Silvio Berlusconi, UK Prime Minister Gordon Brown and German Chancellor Angela Merkel to consider the response to the financial crisis during the Great Recession.
Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s exports totaled 650,927 tons worth $587.33 million during the year, indicating a 6.5% and 11.2% increase in tonnage and value respectively year-on-year, Financial Tribune reported.
Imports stood at 3.54 million tons worth $5.68 billion, down 20.98% and 23.25% in tonnage and value respectively YOY.
As such, Iran recorded $5.09 billion in non-oil trade surplus with the four European countries.
Main Commodities, Trading Partners
Iran mainly exported non-alloy semi-finished iron/steel products, floorings, methanol, offal, polystyrene, pistachios and non-ally iron and steel ingots to the Big Four.
In exchange, major commodities imported into Iran from the Big Four included field corn, oilcake, auto parts, soybean, barley and graphite electrodes used in furnaces.
In terms of total trade value, Germany topped the list among the Big Four with Iran trade standing at 801,658 tons worth $2.72 billion, down by 27.69% and 21.08% in tonnage and value respectively YOY.
Exports to Germany amounted to 119,226 tons worth $254.47 million to register a 139.47% growth in tonnage and a 29.48% decrease in value YOY.
Germany was Iran’s second biggest export destination among the countries under review and 17th in the whole world.
In return, Germany exported 682,432 tons of commodities worth $2.47 billion to Iran, down by 35.55% and 20.1% in tonnage and value respectively YOY.
Germany was the top exporter of goods to Iran among the states and fifth in the world.
Major Iranian commodities exported to Germany were offal, polystyrene, floorings and antiserum.
In return, Germany exported graphite electrodes used in furnaces, antiserum, barley, machinery and pharmaceuticals to Iran.
Italy was Iran’s second biggest trading partner among the Big Four during the 12 months, as two-way commercial exchanges stood at 661,742 tons worth $1.42 billion to register a 36.35% and 23.56% decline in tonnage and value respectively YOY.
Iran exported 468,133 tons of goods worth $276.36 million to Italy, down by 38.78% and 34.6% in tonnage and value respectively YOY.
Italy was Iran’s top export destination among the Big Four and 16th in the world during the period under review.
Iran’s exports to Italy included non-alloy iron/steel, methanol, non-alloy iron/steel ingots, vehicles parts and semi-finished non-alloy iron/steel products.
Iran imported 148,609 tons of commodities worth $1.14 billion from Italy, down 27.26% and 20.31% in tonnage and value respectively YOY, which mainly constituted screw air compressor, industrial furnace parts and baking machinery.
Italy was the second exporter of goods to Iran among the Big Four and 10th exporter to Iran in the world.
France was Iran’s third major trading partner among the Big Four.
Trade between Iran and France amounted to 122,329 tons worth $1.07 billion, indicating a 37.22% and 40.69% decrease in tonnage and value respectively YOY.
Iran’s exports reached 41,296 tons worth $27.61 million, down 11.45% and 29.74% in tonnage and value respectively YOY, while France’s exports to Iran were at 81,033 tons worth $1.04 billion, down by 45.32% and 40.93% in tonnage and value respectively YOY.
France was Iran’s fourth export destination and third exporter of goods to Iran among the Big Four. The country was Iran’s 54th export destination and 11th exporter to Iran in the world.
Urea, saffron, pistachios, vehicles parts and floorings were Iran’s main goods exported to France, which exported mainly auto parts and pharmaceuticals in return.
The UK was Iran’s fourth trading partner among the Big Four during the period, as mutual trade stood at 2.65 million tons worth $1.04 billion to register a 14.15% and a 9% decrease in tonnage and value respectively YOY.
Iran’s exports to the UK amounted to 22,272 tons of goods worth $28.88 million to the UK, up by 23.05% in tonnage and down by 41.18% in value YOY.
The UK was Iran’s third export destination among the Big Four and 51st in the world during the period under review.
Iran’s exports to the UK included iron/steel bars, floorings and polyethylene. The country imported 2.63 million tons of commodities worth $1.02 billion from the UK, down 14.37% and 7.57% in tonnage and value respectively YOY, which mainly constituted field corn, oilcake, soybean, barley, sugar and machinery parts.
The UK was the fourth exporter of goods to Iran among the Big Four and 12th exporter to Iran in the world.
Highest Growths, Declines in Trade
Trade with all the four countries witnessed a year-on-year decline in that trade with France ($1.07 billion), Italy ($1.42 billion), Germany ($2.72 billion) and the UK ($1.04 billion) dipped by 40.69%, 23.56%, 21.08% and 9% respectively.
Iran’s exports to the UK ($28.88 million), Italy ($276.36 million), France ($27.61 million) and Germany ($254.47 million) witnessed the lowest declines of 41.18%, 34.6%, 29.74% and 29.48% respectively.
Imports from France ($1.04 billion), Italy ($1.14 billion), Germany ($2.47 billion) and the UK ($1.02 billion) registered a fall of 40.93%, 20.31%, 20.1% and 7.57% YOY.