Turkey-Iran trade turnover decrease

Maria Novoselova / Vestnik Kavkaza

The trade exchanges between Turkey and Iran in the first three months of 2024 reached $1.362 billion, registering a 16% decline compared to the same period last year.

According to the latest figures released by the Turkish Statistical Institute (TURKSTAT), Iran’s trade with the neighboring country stood at $1.635 million in January-March 2023.

Turkey’s exports to Iran in the mentioned three months reached $817 million, recording a 16% increase compared to last year’s corresponding period.

Turkey exported over $701 million worth of products to the Islamic Republic in the first three months of 2023.

Turkey’s imports from Iran however registered a 41 percent decline and fell from $934 million in January-March 2023 to $547 million in the first quarter of 2024.

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

© Photo :Maria Novoselova / Vestnik Kavkaza