Economy, Domestic Economy

Tehran-Ankara Q1 Trade at $910m

Tehran-Ankara Q1 Trade at $910mTehran-Ankara Q1 Trade at $910m

Iran’s exports to and imports from Turkey during the first three months of the current Iranian year (started March 20), stood at more than $368 million and $542 million respectively, indicating a $174 million trade deficit in favor of the neighboring country. Iran’s main exports included cathode, polypropylene filament grade, non-ingot and ingot iron and steel, zinc and pistachios, ISNA reported. Chief imports were thread, tobacco, cigarettes, bananas and industrial machinery. Turkey aims to triple trade with Iran to $30 billion a year after the lifting of economic sanctions that made banking transactions with the country easier, said Turkish Customs and Trade Minister Bulent Tufenkci in June. Trade volume between Iran and Turkey rose to $21.9 billion in 2012, then fell below $10 billion in 2015 due to the sanctions.