Iran-UK trade rises over 70% in 2022

May 17, 2023 - 12:0

TEHRAN - The economic exchanges between Iran and the United Kingdom (UK) have more than tripled after BREXIT so that the trade between the two countries reached 696 million pounds in 2022, IRNA reported.

Based on a report published by the British Ministerial Department of Business and Trade, the trade between Iran and UK in 2022 reached its highest level over the last 10 years, registering a significant growth of 72 percent.

The value of trade between the two countries amounted to 191 million pounds in 2020 when the UK exited the European Union. The trade increased to 405 million pounds in 2021 and then to 696 million pounds in 2022.

Despite this significant growth, Iran was ranked 98th among the UK's trading partners in 2022, and trade with Iran has constituted only 0.1 percent of the country's total foreign trade.


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