Over the past week, the value of Turkish lira collapsed yet another time.
At first glance, this seems like a problem peculiar to Turkey, but economists are warning that the Turkish lira’s slide will have a ripple effect on Iran’s economy.
“The 40% drop in the Turkish lira in recent months could escalate the outflow of currency from Iran toward the neighboring country’s real-estate market. The Central Bank of Iran needs to take into account the new developments and their knock-on effects on Iran’s economy. On top of that, cheap imports [of consumer goods] from Turkey might lead to an even more alarming situation for the manufacturing sector in Iran,” he said.
Domestic Economy
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07/16/2018Iran exported 594 tons of hand-woven carpets worth $33.7 million during the first two months of the... -
07/15/2018Minister of Industries, Mining and Trade Mohammad Shariatmadari appointed personnel to the newly-founded taskforce called “Intensified Fight Against Hoarding and Stashing” on Friday. These included... -
07/15/2018The United States’ ban on Iranian products will result in the loss of US and UAE’s markets for Iranian carpets, hence it is necessary for exporters to focus on alternative markets such as Germany,... -
07/15/2018The Iranian government's balance sheet for the last fiscal year (March 2017-18) shows major improvement compared to the preceding year, as revenues got a boost in line with curbs on spending. Its... -
07/15/2018Around 1.8 million tons of grapes were produced in Iran in the last Iranian year (March 2017-18), of which 107,500 tons were exported. This was reported by Tehran Chamber of Commerce, Industries,... -
07/15/2018US Secretary of State Michael Pompeo and Treasury Secretary Steven Mnuchin rejected... -
07/15/2018The US administration’s decision to pull the plug on the Joint Comprehensive Plan of Action, the formal name of the nuclear deal struck between Iran and world powers, including the United States,... -
07/14/2018The last time the country experienced a rise in retail bread price was in November 2014. Despite the soaring costs, bakers say, the government does not allow any increase in bread prices. Last... -
07/14/2018The United States has rejected a French request for waivers for its companies operating in Iran that Paris sought after US President Donald Trump imposed sanctions on the Islamic Republic, French... -
07/14/2018Iran has been ranked 65th in the Global Innovation Index 2018, rising 10 positions from last year. Innovation Efficiency Ratio is Iran's main strength, in which the country is ranked 11th... -
07/14/2018More than 1,180 tons of biscuits worth around $3.7 million were imported into Iran during the last Iranian year (March 2017-18), data released by the Islamic Republic of Iran Customs Administration... -
07/14/2018Around 1.2 million tons of different kinds of dates were produced in Iran in the last Iranian year (March 2017-18), more than 181,000 tons of which were exported, Tehran Chamber of Commerce,... -
07/14/2018More than 2 million tons of sugar were produced in Iran in the last Iranian year (ended March 20, 2018) to... -
07/12/2018An Iranian delegation is scheduled to visit three East African countries, namely Ethiopia, Uganda and Kenya, from September 3 to 7. The mission is organized by the Vice-Presidency for Science and... -
07/12/2018The provisional agreement to establish a free trade zone between the Eurasian Economic Union... -
07/12/2018Iran Airports Company registered a total od 33,451 takeoffs and landings during the Iranian month ending June 21, which shows a 4% decline compared with last year’s corresponding period. Close to... -
07/12/2018A two-day international forum dubbed “Export Promotion Through the Caspian Sea” opened in the northern Amirabad Port, Mazandaran Province, on Wednesday. The event is attended by officials from... -
07/12/2018A top US official said the US government is unlikely to issue any licenses that would allow companies like... -
07/12/2018Some 1,150 production units in Iran’s industrial parks were revived since President Hassan Rouhani began his second term in office (August 2017) up until May 21, creating 17,753 jobs in the process... -
07/11/2018Germany remains committed to the nuclear non-proliferation agreement with Iran that was rejected... -
07/11/2018Germany remains committed to the nuclear non-proliferation agreement with Iran that was rejected...
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07/11/2018About 50,300 tons of figs were produced in Iran during the last Iranian year (ended March 20, 2018), of which 11,000 tons were exported. Tehran Chamber of Commerce, Industries, Mines and... -
07/11/2018Close to 120,000 tons of commodities worth $27 million were exported from the northeastern province of North Khorasan during the first quarter of the current fiscal year (March 21-June 21),... -
07/11/2018Although India’s tea exports, particularly of the orthodox variety, are on a growth trajectory, exporters to... -
07/11/2018The US Treasury Department has slapped sanctions on a Malaysia-based sales agent for...
