According to the latest figures released by the Turkish Statistical Institute (TURKSTAT), Iran’s trade with this neighboring country hit $2.190 billion from January to May 2023, registering a 20 percent slump compared to a year earlier.
The Institute put the value of trade exchanges between the two countries from January to May 2022 at $2.740 billion.
According to this report, Turkey’s export of products to Iran from January to May 2023 reached $1.152 billion, recording a four percent decrease compared to last year’s corresponding period.
Turkey had exported over $1.204 billion worth of products to the Islamic Republic from January to May 2022.
Turkey’s import of products from Iran registered a 32 percent decline and reached from $1.536 billion in January to May 2022 to $1.38 billion in the first five months of 2023.
According to a report by the Statistical Center of the European Commission (Eurostat), Iran exported more than 3 billion cubic meters of natural gas to neighboring Turkey from January to May 2023.