Iran-Turkey Trade Hits $2.2 Billion in Five Months

Iran-Turkey Trade Hits $2.2 Billion in Five Months

TEHRAN (Tasnim) – The trade exchanges between Iran and Turkey in the first five months of 2023 were about $2.2 billion, showing a 20 percent decline compared to the same period of last year.

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.

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