The trade exchanges between Iran and Turkey in the first seven months of 2023 reached $3.025 billion, showing a 21 percent decline compared to the same period of last year.
According to the latest figures released by the Turkish Statistical Institute (TURKSTAT), Iran’s trade with the neighboring country stood at $3.846 billion in January-May 2022, Tasnim News Agency reported.
According to TURKSTAT, Turkey’s exports to Iran from January to July 2023 reached $1.663 billion, recording a two percent decrease compared to last year’s corresponding period.
Turkey exported over $1.701 billion worth of products to the Islamic Republic in the first seven months of 2022.
Turkey’s imports from Iran also registered a 36 percent decline and fell from $2.145 billion in January to July 2022 to $1.362 billion in the first seven months of 2023.
Based on the data previously released by the Turkish Statistical Institute, the value of Iran’s exports to Turkey increased by 19 percent to reach $3.35 billion in 2022. Turkey had imported over $2.82 billion worth of commodities from the Islamic Republic in 2021.Based on the mentioned data, Iran’s imports from the country also marked an 11-percent rise to hit $3.07 billion in the past year, in comparison with 2021, when the figure was $2.77 billion.
According to the Turkish Statistical Institute, the trade between the two countries has registered a 15-percent rise in 2022 compared to 2021. The value of trade between the two neighbors reached $6.42 billion in 2022, while the figure stood at $5.59 billion in the preceding year.
Iran’s trade balance with Turkey has been $280 million positive in favor of Iran in the past year. Last July, Iran, and Turkey discussed ways of expanding economic relations along with political ties at the Turkish-Iranian High-Level Cooperation Council in Tehran.—Tehran Times
