36% Decline in Iran's Trade With Turkey

(Saturday, November 2, 2019) 14:51

Iran’s trade with Turkey totaled $4.74 billion during the first nine months of 2019 to register a decrease of 36.61% compared with the corresponding period of 2018, data released by Turkish Statistical Institute show.

Iran exported $3 billion worth of goods to Turkey during the period under review, indicating a 46.98% decline year-on-year.

Imports stood at $1.74 billion, down 4.42% YOY.

The country was Turkey’s 19th biggest export destination and 13th biggest exporter of goods to the country during the period.

Iran’s exports to Turkey in September amounted to $96.44 million, down 82.97% YOY while imports from the neighbor during the month went up by 12.79% YOY to $176 million.

Data released by the Islamic Republic of Iran Customs Administration on Iran's non-crude oil trade show liquefied natural gas, non-alloy zinc, aluminum, urea and bitumen were Iran’s main goods exported to Turkey, which exported mainly cooking bananas, tobacco and fiber in the last Iranian year (ended March 20, 2019).