Iran’s quarter exports to UK total £14mln despite sanctions

Iran’s exports to Britain hit 14 million pounds in the first quarter of 2024, the British Ministerial Department of Business and Trade said in a report.

کد خبر: ۱۲۴۲۲۳۵

تاریخ: ۲۳ خرداد ۱۴۰۳ - ۱۰:۲۸

TABNAK: The economic exchanges between Iran and the United Kingdom (UK) reached 18 million pounds in the first three months of 2024, 14 million pounds of which included Iran’s exports to the European country. Experts say the mutual economic transactions mainly include services and not goods.

However, the amount of trade exchanges decreased by 18 percent comparing to similar period in the year before.

The volume of economic exchanges between the two countries reached its highest level over the last 10 years in 2022, 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.