UPDATE 1-German exports to Iran soar after removal of sanctions

lunes 22 de agosto de 2016 08:31 GYT

* High demand for 'Made in Germany' goods from Islamic Republic

* Exports to Iran up 15 pct y/y in first six months of 2016

* Impact of Russia sanctions on German exports bottoming out

* Overall outlook clouded with weaker demand from U.S., France (Adds exports to United States, France, Russia, China and others, more quotes)

By Michael Nienaber

BERLIN, Aug 22 (Reuters) - German exports to Iran, mostly machines and equipment, jumped in the first half of the year following the removal of international sanctions against the Islamic Republic, official trade data showed on Monday.

Exports to Iran surged by 15 percent year-on-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 overall German exports 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.   Continuación...