Iran maintains positive balance in trade with Turkey

Business Materials 2 July 2018 15:05 (UTC +04:00)

Baku, Azerbaijan, July 2

By Umid Niayesh - Trend:

Trade turnover between Iran and Turkey reached $4.57 billion in the first five months of 2018, 2.7 percent more compared to January-May 2017, when the mutual trade value amounted to $4.45 billion.

The latest statistics released by the Turkish Statistical Institute indicates that the exports of Turkey to Iran in May 2018 were valued at about $195.72 million, 16 percent less compared to $233.14 million in May 2017.

Turkey exported $1,140.9 million worth of goods to Iran in January-May 2018, 11.3 percent less year-on-year.

Meanwhile, the country imported goods worth $750.53 million from Iran in the fifth month of current year, compared to $‎658.63 ‎million worth of imports in May 2017 (13.95 percent more).

Turkey's imports from Iran in the first five months of 2018 amounted to $3.4 million, 8.7 percent more year-on-year.

Turkey’s negative trade balance with Iran accounted to $2.29 million in January-May 2018.

Trade turnover between Iran and Turkey stood at $10.75 billion in January-December 2017. The figure indicates a rise by 11.2 percent compared to the same period of the preceding year ($9.67 billion).

Turkey's exports to Iran in the period amounted to $3.26 billion, compared to $4.97 billion in the 12-month period of 2016.

The trade turnover between the two countries was $13.71 billion in 2014, which stood at $9.76 billion in 2015, indicating a 29-percent plunge.