Iran’s trade with Turkey down 77%

Financial Tribune – Iran’s trade with Turkey totaled $803.59 million during the first five months of 2020 (January-May) to register a decrease of 77.62% compared with the corresponding months of 2019, data released by Turkish Statistical Institute show.

Iran exported $331.67 million worth of goods to Turkey during the five months under review, to see an 87.1% year-on-year drop.

Imports stood at $471.9 million, down 53.85% YOY.

Bilateral trade amounted to $86.21 million in May to register an 88.15% decline compared to May 2019. Exports to Turkey accounted for $42.34 million of the figure, down 91.5% YOY, while Turkey’s exports to Iran stood at $8089 million, down by 74.19% YOY.

Iran was Turkey’s 36th biggest trading partner during the period under review.