TEHRAN (Iran News) – Iran’s exports to Turkey have witnessed 49% increase in 8 months since the beginning of 2022.
According to a report released by Turkish Statistical Institute (TURKSTAT), the trade exchange between Iran and Turkey has grown 29% between January and August of 2022.
The trade exchange between the two countries in 8 months of 2022 has hit $4.332b while the figure was $3.344b in the same period in 2021.
The report shows that Turkey’s exports to Iran in 8 months have increased by 11% comparing to the same period last year and has reached $1.95. Turkey’s exports to Iran were $1.752b in the same period last year.
The growth of imports from Turkey in 8 months has been more than 4 times of Turkey’s exports to Iran in the same period in 2021.
Meanwhile Turkey’s imports from Iran in the same period have grown considerably by 49% and have hit $2.382b. Turkey’s imports from Iran in the same period in 2021 were $1.592.
The trade balance of the two countries in 2022 has been so far $343m in favor of Iran. The report also shows that Turkey’s exports to Iran in August 2022 were $248m and its imports stood at $237m and the figure shows 1.2% rise in Turkey’s exports to Iran and 10% growth in Iran’s exports to Turkey.