Exports to Turkey Decline by 16 Percent in Three Months

Iran and Turkey traded $1.18 billion worth of goods during the first three months of 2023 to register a 16.04% year-on-year decrease, latest data released by the Turkish Statistical Institute show.

Iran’s exports amounted to $622.71 million, down 26.7% while imports increased by 0.1% to $561.01 million.

Bilateral trade stood at $381.03 million in March, down 26.65% YOY, with Turkish exports at $183.32 million, down 2.44% YOY, and Iranian exports at $197.71 million, registering a 40.37% decline YOY.

Iran and Turkey traded $5.35 billion worth of goods in 2022 to register a 12.18% year-on-year rise. Iran’s exports stood at $2.91 billion, up 15.49% while imports grew by 8.47% to $2.44 billion.