Iran-UK trade value triples in 2022
The British Department of Trade and Industry (DTI) has released a report highlighting the significant increase in trade between Iran and Britain following Brexit. In 2022, the bilateral trade value reached an impressive £696 million, marking a 72-percent growth compared to the previous year.
The report sheds light on the positive impact of Brexit on trade relations between Iran and the United Kingdom. Despite initial concerns surrounding the UK’s withdrawal from the European Union, the value of trade exchanges between the two countries has tripled.
Over the past three years, trade between the two countries has experienced consistent growth. The value of trade exchanges soared from £191 million in 2020 to £405 million in 2021, ultimately reaching a record high of £696 million in 2022. This substantial increase reflects a thriving trade relationship between the two nations.