Iran and Turkey registered $2.83 billion in bilateral trade during the first eight months of 2021, 74.09% higher than the same period of last year, latest data by Turkish Statistical Institute say.
Iran exported goods worth $1.43 billion during the eight months to its northwestern neighbor, up 135.76% year-on-year.
Imports grew by 37.49% from $1.02 billion to $1.4 billion.
Iran and Turkey exchanged $409.97 million worth of goods in August 2021, 67.45% higher than the same period of last year.
Iranian exports to Turkey accounted for $212.36 million of the monthly figure, up 118.8% YOY.
Turkey’s exports to Iran stood at $197.09 million in August, up 33.65% year-on-year.
Monthly trade between Iran and Turkey fell below $300 million in September 2020, mostly due to a fall in Iran's exports to the neighboring country. However, trade started to improve as of December last year, raising hopes for recovery from the impact of Covid-19 on trade between the two countries.
Bilateral trade stood at $3.43 billion in 2020, registering a decrease of 45.82% compared with 2019.
Iran exported $1.192 billion worth of goods to Turkey last year to register a 66.9% year-on-year decline. Imports from Turkey stood at $2.245 billion, down 17.97% YOY.
Turkey’s collective value of exports amounted to $169.482 billion down 6.3%. The neighbor’s total imports amounted to $219.397 billion in 2020, up 4.3%, compared with January-December 2019.