Economy, Domestic Economy

Negative Trade Balance With Turkey

Negative Trade Balance With TurkeyNegative Trade Balance With Turkey

Trade balance with Turkey dropped $93 million to minus $1.497 billion in the first ten months of the current year (March 21-January 20) compared with the similar period last year, based on official data released by the Islamic Republic of Iran Customs Administration (IRICA). Exports to Turkey in this period, stood at $1.672 billion, while import valued at $3.170 billion. Iran and Turkey are determined to increase bilateral trade from the current $15 billion to $30 billion by the end of 2015. Iran is a main energy supplier to Turkey and Ankara has made huge investments in Iran.