Iran-UK Trade Value Triples after Brexit
TEHRAN (Tasnim) – The British Department of Trade and Industry (DTI) in its latest report said the value of trade exchanges between Iran and Britain tripled after Brexit and reached £696 million in 2022.
The report pointed to a 72-percent growth of trade between Iran and the UK in 2022, compared to a year earlier.
The two countries exchanged £696 million worth of products in 2022, showing the highest value of bilateral trade over the past 10 years, it said.
The value of trade between the two countries registered considerable growth with the exit of the UK from the European Union (Brexit), reaching £191 million, £405 million and £696 million in 2020, 2021 and 2022, respectively.
According to the report, the UK exported over £265 million worth of products to Iran in 2021, showing a 100 percent growth compared to a year earlier.
Meanwhile, it imported £165 million worth of non-oil products from Iran in 2022, registering an 18-percent growth compared to the previous year.