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German exports to Iran soar

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German exports to Iran, mostly machines and equipment, jumped in the first half of the year after the removal of international sanctions against the Islamic Republic, official trade data showed earlier this week. Exports to Iran surged by 15 percent compared with the previous year in the first six months of 2016 to 1.13 billion euros ($1.3 billion), the Federal Statistics Office said.

This compares with a rise of 1.4 percent in German exports overall in the same period, and a fall of 14 percent in German exports to Iran in 2015.

“There is a huge demand in Iran for plant and equipment”, said Michael Tockuss, head of the German-Iranian Chamber of Commerce, adding that chemical products and electrical engineering were also doing well.