The latest figures released by the Turkish Statistical Institute indicate an increase in trade exchange between the two neighbors in January-May 2018, although the value of Turkish exports to Iran has dropped in the 5-month period in comparison with 2017.
A 9-percent increase in the value of Iranian exports to Turkey in the first five months of 2018 has helped the total trade exchange between the two countries to grow by 3 percent, raising it to 4.575 billion dollars.
Iran is ranked 19th in the list of top export destinations of Turkey and has been reported as the 7th major source of imports to Turkey in the first five months of this year.
Iran and Turkey have set a $30-billion annual trade target, signing several agreements to enhance cooperation in various areas.
In October 2017, Turkish President Recep Tayyib Erdogan visited Iran to attend the fourth round of strategic meetings between Iran and Turkey.