Iran’s trade with major powers increasing, despite sanctions

     Trade between Iran and the world’s six major powers increased well into 2010, despite international sanctions and tough financial restrictions, according to International Monetary Fund figures and individual foreign ministries. Countries now negotiating with Iran include the United States, Britain, France, Germany, Russia and China. The biggest increases were in goods imported from Iran. Five of the six powers now negotiating with Iran over its nuclear program imported more from Iran than they exported.

 

      U.S. imports from Iran increased by around six percent in the first half of 2010 compared to the same period in 2009, while American exports to Iran —mainly foodstuffs, medical goods, education materials exempted from sanctions—decreased by 26 percent. Britain had the largest percentage increase in imports from Iran during the same period, up 203 percent. Germany had the second largest percentage increase in imports, up 97 percent.  

 

      European trade with Iran increased partly because companies were wrapping up contracts before new European Union sanctions in July, said German analyst Walter Posch. Trade data from the IMF and foreign ministries can differ for diverse reasons. The IMF sometimes looks at different or a broader range of sources. Other factors affecting data:

 

 

 

European Union European Commission (in millions of dollars rounded off)

 

Germany Foreign Ministry (in millions of dollars rounded off)

 

Britain Foreign Ministry (in millions of dollars rounded off)

France Foreign Ministry (in millions of dollars rounded off)

* French exports to Iran increased $177 million dollars in 2010 (January-August), since the same time in 2009.