Iran and Turkey exchanged $758.29 million worth of goods during the first two months of 2021, registering a 16.3% increase compared with the corresponding period of last year.
According to the latest data released by Turkish Statistical Institute, the neighboring country's imports from Iran hit $342.18 million during the period, 37.20% higher year-on-year.
Turkey’s exports to Iran stood at $416.11 million, which shows a 3.46% YOY increase.
Trade between the two countries posted a growth of 32.79% in February to $419.15 million. Iran exported $181.08 million to its neighbor during the month, up 38.8% while Turkey's export to Iran grew by 28.49% to $238 million.
Bilateral trade stood at $3.43 billion in 2020 to register a decline of 45.82% compared with 2019.
Iran exported more than $1.19 billion worth of goods to Turkey in 2020 to register a 66.9% year-on-year decline. Imports from Turkey stood at $2.245 billion, down 17.97% YOY.
Turkey’s exports amounted to $169.482 billion down 6.3%. The country’s imports amounted to $219.397 billion in 2020, up 4.3% YOY.
Iran and Turkey traded a total of 11.17 million tons of commodities worth $6.85 billion during the last Iranian year (March 2020-21), registering a 51.52% and 31.82% decline in weight and value respectively compared with the year before, according to the spokesperson of the Islamic Republic of Iran Customs Administration.
“Iran exported 6.36 million tons of goods worth $2.51 billion to the neighboring country over the period under review, indicating a 63% and 50% decline in volume and value YOY respectively,” Rouhollah Latifi was quoted as saying by IRNA.
The main exported products were natural gas, nuts, dairy, milk powder, fruit and vegetable, vinegar, tobacco, salt, minerals, herbal water, polymers, construction materials, doors and windows, apparel, bags and footwear, carpet and fabric, tiles and ceramics, stone, toiletries, dishes, pipes, home appliances, agricultural and industrial machinery, electronic devices and steel sheets and ingots.
Latifi added that Iran imported 4.81 million tons of products worth $4.34 billion from Turkey during the same period, registering a 15.5 and 13.5% decline in weight and value respectively YOY.
The imports included pulses, barley, banana, rice, seeds, edible oils, cocoa, fruit essence, industrial oils, raw materials and machinery, paraffin, industrial acids and oxides, pharmaceuticals, vaccines, medical and dentistry equipment, fertilizer, fabric, auto spare parts, printing ink, paper and cardboard, paint, minerals, wood and galvanized sheets, bolts and nuts, agricultural equipment, elevators, cranes and packaging equipment.
According to Latifi, each ton of export to Turkey during the period averaged $394.9, up 36.22% from $289.9 in the previous year while each ton of import averaged $901.8, up 2.31% from $881.4 in the year before.
