Iran-EU Trade Turnover Hits €9.9 Billion in 6 Months

The total trade between Iran and the 28-nation bloc in the first six months of the current year amounted to €9.9 billion, showing a 94 percent increase compared to the same period last year, according to the report.

The value of Iran-EU bilateral trade in the first half of 2016 had stood at €5.1 billion, the data showed.

The EU imports from the Islamic Republic in the first half of 2017 has also risen to €5 billion, showing a 224 percent increase compared to a year earlier, in which the figure amounted to €1.54 billion, the report said.

The reports comes against the backdrop of a new wave of interest in ties with Iran after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 reached a conclusion over the text of a comprehensive 159-page deal on Tehran's nuclear program and started implementing it on January 16, 2016.

The comprehensive nuclear deal, known as Joint Comprehensive Plan of Action (JCPOA), terminated all nuclear-related sanctions imposed on Iran.