France’s Import from Iran Skyrockets in 2016

France’s Import from Iran Skyrockets in 2016

TEHRAN (Tasnim) – France’s imports from Iran in the first nine months of 2016 show a staggering 34-fold rise compared to the corresponding period last year, thanks to resumption of oil imports after coming into force of the Joint Comprehensive Plan of Action (JCPOA).

Iran-France trade has tripled since implementation in January of the JCPOA, a nuclear agreement between Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany), according to figures from EU's statistical office Eurostat.

Iran has experienced a positive balance of €383 million in trade with France during the nine-month period, after resumption of crude exports to Europe’s biggest purchaser of Iranian oil.

France’s imports from Iran in January-September 2016 stood at €842 million, more than 34 times greater than the same period in 2015.

The European country’s imports from Iran averaged €34.4 million from 2014 until 2016, and reached €229 million in August 2016.

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