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Turkey eyes to increase trade with Iran to $30B

Türkiye Materials 18 November 2019 14:13
Turkey eyes to increase trade with Iran to $30B

BAKU, Azerbaijan, Nov. 18

By Rufiz Hafizoglu - Trend:

Turkey intends to increase trade turnover with Iran to $30 billion, President of the Foreign Economic Relations Board of Turkey (DEIK) Nail Olpak said, Trend reports citing Turkish media.

Turkey and Iran have great potential to increase bilateral trade, Olpak added.

In September 2019, Turkey's trade turnover with Iran fell by $490.5 million, compared with September 2018, having amounted to over $272.4 million.

During this month, Turkey's exports to Iran slightly exceeded $176 million, while imports from Iran amounted to over $96.4 million.

From January through September 2019, Turkey - Iran trade turnover decreased by nearly $2.8 billion, compared to the same period in 2018, and amounted to over $4.7 billion. In the reporting period, Turkish exports to Iran exceeded $1.7 billion, while imports from Iran amounted to $3 billion.

Turkey’s foreign trade in September 2019 amounted to $32.1 billion.

In September 2019, Turkish exports grew by 0.08 percent compared to September 2018, and amounted to $15.2 billion.

Imports to Turkey increased by 0.15 percent and reached $16.9 billion.

From January through September, Turkey’s foreign trade amounted to $286.4 billion.

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Follow the author on Twitter: @rhafizoglu

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