27 May 2024
Wednesday 3 April 2024 - 13:10
Story Code : 418813
Source : Mehr News

Iran-Turkey trade reaches $930 mn in 2 months

The Iran Project : The trade exchanges between Iran and Turkey in the first two months of 2024 reached $930 million, showing a one percent increase compared to the same month last year.
Iran and Turkey flags
Iran and Turkey flags
According to The Iran Project,According to the latest figures released by the Turkish Statistical Institute (TURKSTAT), Iran’s trade with the neighboring country stood at $919 million in January-February 2023.

According to TURKSTAT, Turkey’s exports to Iran in the mentioned two months reached $580 million, recording a 23 percent increase compared to last year’s corresponding period.

Turkey exported over $469 million worth of products to the Islamic Republic in the first two months of 2023.

Turkey’s imports from Iran however registered a 22 percent decline and fell from $450 million in January-February 2023 to $350 million in the first two months of 2024.

The trade exchange between Iran and Turkey stood at $5.490 billion in 2023 with a decrease of 14 percent.

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 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 was $280 million positive in favor of Iran in the past year.
Reporter : Editorial of The Iran Project
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