Experience has shown that whenever the political climate is somewhat stabilized or legal solutions for transactions are defined, trade interactions improve to some extent, but geopolitical risks increase the real cost burden for businesses. During the JCPOA era, the volume of trade between the two countries excluding crude oil and gas condensates approached 4 billion euros and was growing rapidly, which stopped with the US withdrawal from the nuclear deal.
Over the past one to two years, the volume of trade between Iran and Germany has been in the range of approximately 1.3 to 1.5 billion euros per year. According to German customs data, in recent years, German exports of chemicals have included pharmaceutical and veterinary products, while Iranian exports to Europe and Germany have mostly included food and livestock, non-food raw materials, and limited chemicals.
