TEHRAN (Iran News) – Iran-Turkey trade topped a total value of $645 million during January to March, according to figures published by Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) on Thursday.
According to the statistics, Iran and Turkey trade value has reached $270 million over the period, a slight increase compared to the last quarter of 2019 but significantly down from figures seen over the first three months of the same year, Press TV reported.
Iran had maintained a trade surplus of over 1$ billion with Turkey at the beginning of 2019 mainly because of its growing exports of products derived from crude.
However, the TCCIMA survey said that Iranian petchem exports to Turkey declined by a staggering figure of 99 percent over the past year causing Iran’s balance of trade with Turkey to slide into the negative territory.
Trade deficit narrowed from $250 million in early 2019 to $117 million in the first quarter this year, said the report.
It said Iran’s total imports from Turkey amounted to $376 million over the first quarter, a decline of 35 percent compared to the similar period last year.
The reduction was mainly blamed on fewer shipments of tobacco, plastic products and cardboard from Turkey into Iran.
The report concluded that first-quarter trade between Iran and Turkey was significantly down in March when a new coronavirus pandemic caused a closure of border crossings between the two neighbors.
- source : Iran Daily, Irannews
