The British Ministerial Department of Business and Trade reported that the economic exchanges between Iran and the UK decreased by 18 percent in the first three months of 2024 compared to the same period last year to stand at 18 million pounds.

The trade between Iran and the UK amounted to 22 million pounds in the previous year’s same three months, it noted.

During January-March 2024 the UK exported 14 million pounds worth of commodities to the Islamic Republic, registering a 17 percent decline, year on year, the report added.

Britain’s imports from Iran in the first three months of this year were four million pounds, one million pounds less than the figure for the same period last year.

According to the British Ministerial Department of Business and Trade, the trade between Iran and the UK has more than tripled after BREXIT so the trade between the two countries reached 696 million pounds in 2022.