Decline in Iran-Turkey Trade
Trade turnover between Iran and Turkey stood at $8.79 billion during the 11 months of 2016, according to the latest statistics released by the Turkish Statistical Institute. The figure indicates a 1.6% decline compared with last year’s corresponding period, Trend News Agency reported Turkey’s exports to Iran amounted to $4.635 billion, up 41% year-on-year. The country also imported $4.163 billion worth of goods from Iran during the 11-month period, 26% down year-on-year. Bilateral trade reached $796.35 million in November. Exports of Turkey to Iran in that month amounted to $320.976 million while the country imported goods worth $475.375 million from Iran in the same month. Trade turnover between the two countries was $13.71 billion in 2014, which figure plunged 29% in 2015 to stand at $9.76 billion.