The volume of trade between Iran and Turkey hit as much as $494 million in January, according to a report by Turkish Statistical Institute.
The report suggests a 3% decline compared to $510 million of January 2022.
Turkey’s exports to Iran climbed from last January’s $216 million to $241 million in January 2023 to register an 11% year-on-year rise.
Turkey’s imports from Iran, however, hit $253 million in the month under review down 14% from $294 million of last year’s corresponding month.
Iran was reported to be the 18th biggest export destination of the Turkish commodities and the 3rd major importer to the country in January.
Iran also registered a $12 million surplus in trade with Turkey in the one-month period.
Trade exchanges between Iran and Turkey hit $6.42 billion in 2022 up 15% YOY.