News ID: 199407
Published: 0227 GMT August 26, 2017

UK exports to Iran show 200% growth

UK exports to Iran show 200% growth

Exports from the United Kingdom to Iran witnessed a growth of 200 percent to stand at $432 million during March 21-July 22, 2017.

The UK was the ninth top exporter of goods to Iran during the period recording a share of 2.7 percent in Iran's overall imports, which amounted to $15.813 billion‎, according to the latest figures released by Iran's Trade Promotion Organization, Trend News Agency reported.

In addition to the UK, Germany ($864 million with 29 percent increase of year-on-year), Switzerland ($663 million, 81 percent increase), France ($456 million, 51 percent increase) and Italy ($420 million, 26 percent increase) were the European countries that ranked among the top exporters of goods to Iran, in ‎the period.‎

Iran purchased 59.5 percent of its goods during the four-month period from five countries — China, the United Arab Emirates, South Korea, Turkey and India.

China was the main exporter of goods to Iran during the aforementioned period. China's exports constituted 22.1 percent of Iran's total imports in terms of value.

During the period, Iran imported goods worth $3.495 billion from China, indicating a 19-percent increase, year-on-year.

Iran had also imported goods valued at $2.992 billion from the UAE (a 42 percent increase) accounting for 18.9 percent of Iran's total imports in terms of value.

South Korea and Turkey exported goods worth $1.074 billion and $958 million to Iran, respectively.

South Korean exports to Iran indicated a rise of 15 percent, while imports from Turkey registered a growth of 11 percent.

Iran's trade balance witnessed a fall by 211 percent and became negative (-$2.354 million), after experiencing a positive balance in the previous year.

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