Iran’s trade with Turkey totaled $1.99 billion during January-August to register a decline of 60.28% compared with the corresponding period of 2019.
Latest data released by Turkish Statistical Institute show Iran exported $696.9 million worth of goods to Turkey during the period to register a 77.9% year-on-year drop. This is while imports from Iran's neighboring country stood at $1.29 million, down 30.31% YOY.
Iran-Turkey trade in August amounted to $301.3 million, indicating a 5% decrease compared to August 2019.
Exports to Turkey accounted for $116.07 million of the figure, up 12.73% YOY, while Turkey’s exports to Iran stood at $185.2 million, down 14.22% YOY.
The huge decline in bilateral trade comes, as the two countries have been hit hard by the coronavirus pandemic since early 2020. However, the trend seems to be reversing in the past two months.
Iran-Turkey monthly trade had fallen to under $100 million in the past few months. However, the TSI report shows bilateral trade in July reached $379 million to mark a decrease of 20.61% compared to July.
Iran’s exports to Turkey in August was 3% higher month-on-month, whereas its imports from Turkey decreased by 20.59% in August compared to July.
Flights Called Off Yet Again
All flights between Iran and Turkey will be called off as of Oct. 4, based on a decision by Turkish civil aviation authority, Maqsoud Asadi-Samani, secretary of the Association of Iranian Airlines, said on Friday.
Airlines are only allowed to operate repatriation flights to return their citizens to their countries, he told Fars News Agency.
Turkey has also cancelled Iraq and Afghanistan flights, and has failed to provide a date for resumption of flights.
This comes as Qatar Airways continues to operate Tehran-Doha-Istanbul and Tehran-Doha-Belgrade-Istanbul flights. Normally, plane tickets get more expensive when fewer airlines offer services so Qatar Airways fares are bound to go up soon.
Asadi-Samani said a full refund must be provided by airlines to passengers who have already purchased tickets, as “passengers have a right to reschedule for future flights as well”.
Turkey had cancelled resumption of flights to and from Iran several times following the outbreak of the new coronavirus after initially setting dates.
