Tehran, Iran – Iran and Turkey have traded $1.379 billion worth of goods in the first quarter of 2023, according to data released by the Turkish Statistical Institute.
This represents a 14 percent decrease year-on-year, with Turkish exports at $702 million, up 2 percent, and Iranian exports at $677 million, down 27 percent.
Eurostat also reported a 17 percent decrease in Iranian gas exports to Turkey, totaling 1.567 billion cubic meters in the same period.
Ruhollah Latifi, spokesman for the Trade Promotion Commission of Iran’s House of Industry, Mine and Trade, previously stated that China, Iraq, Turkey, the UAE, and India have been the top five destinations for Iran’s exports over the last year.
Iran and Turkey have historically enjoyed strong economic and cultural ties. However, recent years have seen some tensions arise between the two nations, particularly over regional politics and conflicts in Syria and Yemen. Nevertheless, trade between the two countries has remained robust, with Turkey being one of Iran’s major trading partners.
In fact, the two nations have set a target of $30 billion in annual trade. To achieve this, both governments have been working to remove trade barriers and increase cooperation in various sectors, including energy, tourism, and transportation. Additionally, Iran and Turkey have signed numerous bilateral agreements to further strengthen their economic ties.