Iran-Turkey trade stands at $2bln in 1st quarter of 2016

TEHRAN (Tasnim) – The value of trade between the Islamic Republic of Iran and Turkey during the first quarter of 2016 stood at $2.01 billion, according to data released by Turkish Statistical Institute.

The turnover of trade between Iran and Turkey during the first three months of 2016 dropped by 28 percent compared to the same period last year, which stood at $2.08 billion, the institute’s figures showed.

Compared to the same period last year, Turkish imports from Iran during the first quarter of 2016  also witnessed a 41 percent decline, reaching $1.134 billion, the data added.

The imports amounted to $1.929 billion in 2015.

However, Turkish exports to Iran during the same period witnessed a 0.7 percent rise, reaching $876 billion. Ankara’s exports stood at $871 billion in the same period in 2015.

According to the report, Iran is the 12th country among the biggest importers of Turkish goods and the eleventh among those supplying the country’s import needs during the first three months of 2016.

By Tasnim News Agency