The value of Iran’s exports to neighboring Turkey increased by 24 percent to reach $3.1 billion in the first 11 months of 2022, according to the figures recently released by the Turkish Statistical Institute.
Turkey had imported over $2.5 billion worth of commodities from the Islamic Republic in the first 11 months of 2021.
Based on the mentioned data, Iran’s imports from the country also marked a 12-percent rise to hit $2.78 billion during the January-November period, in comparison with the same time span in 2021, when the figure was $2.49 billion.
According to the Turkish Statistical Institute, the trade between the two countries has registered an 18-percent increase in the said 11 months compared to the same period in the previous year.
The value of trade between the two neighbors reached $5.88 billion in January-November 2022, while the figure stood at $4.99 billion in the previous year’s same time span.
Iran's trade balance with Turkey has been $320 million positive in favor of Iran during the 11 months of 2022.