News ID: 323399
Published: 0239 GMT August 10, 2022

Iran-Hungary five-month trade rises 44.8%

Iran-Hungary five-month trade rises 44.8%

Iran’s trade with Hungary reached $19.35 million in the first five months of 2022, registering a 44.8 percent increase, year-on-year, according to data released by the Hungarian Central Statistical Office.

From January through May 2021, the value of trade between Iran and Hungary was about $13.36 million, indicating that trade between the two countries has increased by about $5.99 million or 44.8 percent.

During the first five months of 2022, Iran exported commodities worth $5.71 million to Hungary, while imports from the country stood at $13.63 million, IRIB News reported.

The Islamic Republic imported $11.27 million worth of goods from Hungary in the first five months of 2021, while exporting $2.53 million worth of commodities to the country.

The top commodity items exchanged between the two countries included livestock and animal products, vegetables, plastic products, textiles and clothing, transportation equipment and parts, and ophthalmology supplies.

The total trade exchange between the two countries in 2021 amounted to $48 million, while in 2020 the figure was about $33 million.

Iran and Hungary signed a memorandum of understanding (MoU) for the expansion of economic cooperation in late 2021.

The MoU was signed by Iranian Finance and Economic Affairs Minister Ehsan Khandouzi and visiting Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó in Tehran on December 17, 2021.



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