Trade exchanges between Iran and Turkey has reached as much as $3.5 billion in the first eight months of 2023, according to a latest update by the Turkish Statistical Institute (TURKSTAT).
The TURKSTAT data suggested that the figures registered a 19% decline compared to those of last year’s corresponding period.
The volume of trade exchanges between Iran and Turkey stood at $4.33 billion in January-August 2022.
According to this report, the Republic of Turkey exported over $1.946 billion to Iran in the eight-month period, showing no significant change in value compared to the same period of last year.
Turkey imported over $1.544 billion worth of non-oil products from Iran in the period under review, posting over 35 percent decline compared to last year’s corresponding period, the report added.
The balance of trade exchanges between Iran and Turkey has amounted to $402 million in favor of Turkey since the beginning of 2023.
Iran’s Ambassador to Ankara Mohammad Hassan Habibzadeh said late July that Turkey is Iran’s third biggest trade partner, accounting for 24% of the country’s trade exchanges.