Economy, Domestic Economy
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Trade With Turkey Down

Trade With Turkey DownTrade With Turkey Down

Latest data show that trade turnover between Iran and Turkey decreased by 6% in the year 2014, compared to the preceding year.

According to the figures released by the Turkish Statistical Institute (TurkStat), Iran-Turkey trade turnover stood at $13.721 billion in 2014, recording a 6% decrease compared with 2013, Tasnim news agency reported on Saturday. Iran-Turkey trade turnover stood at $14.575 billion in 2013.

Based on the new data, Turkey’s exports to Iran totaled $3.888 billion in 2014, registering a 7% decrease compared with 2013. Turkey exported $4.192 of different commodities to Iran in 2013.

According to the report, Turkey’s imports from Iran valued $9.833 billion in 2014, registering a 5.3% decrease compared with 2013. Turkey imported $10.383 of different commodities from Iran in 2013.

Iran has been Turkey’s seventh favorite export destination and its eighth importing partner in 2014.

Turkey’s exports to Iran accounted for 2.5% of the country›s total exports in 2014, and its imports from Iran accounted for 4.1% of its total imports in that year.

 Iran and Turkey have recently signed a preferential trade agreement that could pave the way for a rise in bilateral trade. The agreement was signed following a visit by Turkey’s Economy Minister, Nihat Zeybekci, to Tehran in January. At the time, the Turkish official said the goal is to boost trade between the two neighbors to $30 billion by 2015.

Financialtribune.com