FRANKFURT—German companies hoped the opening of Iran’s economy following the lifting of international sanctions in January would let them rekindle longstanding commercial ties and quickly strike gold.

Despite a jump in exports, the results have left Germans disappointed.

Soon after world powers last summer signed a deal to lift economic sanctions on the Islamic Republic in exchange for curbs on its nuclear program, German business delegations started visiting Iran. Even before sanctions were officially lifted in January, Germans sought local distributors and prepared to resume trade.

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This article was written by Christopher Alessi for The Wall Street Journal on Aug. 31, 2016. Christopher Alessi is a Frankfurt-based reporter, covering German industrial companies.