Domestic Economy

33% Decline in Iran's Trade With Turkey

33% Decline in Iran's Trade With Turkey
33% Decline in Iran's Trade With Turkey

Iran’s trade with Turkey totaled $4.47 billion during the first eight months of 2019 to register a decline of 33.87% compared with the corresponding period of 2018, data released by Turkish Statistical Institute show.
Iran exported $2.9 billion worth of goods to Turkey during the period under review, indicating a 42.98% decline year-on-year.
Imports stood at $1.56 billion, down 6.02% YOY.
Iran was Turkey’s 19th biggest export destination and 16th biggest exporter of goods to the country during the period under review.
Iran’s exports to Turkey in August alone amounted to $85.76 million, down 84.66% YOY while imports from the neighboring state during the month went up by 4.83% YOY to $172.66 million.
Data released by the Islamic Republic of Iran Customs Administration on Iran's non-oil trade show liquefied natural gas, non-alloy zinc, aluminum, urea and bitumen were Iran’s main goods exported to Turkey, while Turkey exported mainly cooking bananas, tobacco and fiber during the last Iranian year (March 2018-19).


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