The value of trade exchanges between Iran and Turkey exceeded $500 million in the first month of 2024.

According to The Iran Project,Turkish Statistical Institute (TURKSTAT) put the value of the trade exchanges between the two countries in January 2024 at $501 million.

The trade value between the two countries in January 2023 was $493 million.

According to the report, Turkey exported $324 million of products to Iran in January 2024, showing a 35-percent growth compared to last year’s corresponding period.

Iran was Turkey’s 7th export target market in January 2024 with 1.6% of Turkey’s total exports sent to Iran.

The trade exchanges between Iran and Turkey in 2023 hit $5.49 billion, showing a 14% decline compared to a year earlier, the report added.