Turkey-Iraq trade turnover soars in 1Q2020
BAKU, Azerbaijan, May 12
By Rufiz Hafizoglu - Trend:
The trade turnover between Turkey and Iraq dropped by $69.8 million in March 2020 compared to the same month of 2019, amounting to slightly over $736.7 million, Trend reports with reference to the Turkish Trade Ministry on May 12.
“In March 2020, Turkey’s export to Iraq amounted to $453.3 million, while import from Iraq – over $283.4 million,” the ministry said.
From January through March 2020, trade turnover between Turkey and Iraq soared by more than $1.5 billion compared to the same period of 2020, making up $3.7 billion. In particular, export from Turkey to Iraq amounted to over $1.9 billion, while import from Iraq - $1.8 billion.
Turkey’s foreign trade turnover exceeded $32.2 billion in March 2020.
In March 2020, Turkey’s export decreased by 17.8 percent compared to the same month of 2019, amounting to $13.4 billion. Meanwhile, in the reporting month, Turkey's import increased by 3.1 percent compared to the same month of 2019 and amounted to $18.8 billion.
From January through March 2020, Turkey’s trade turnover exceeded $98.4 billion.
During 1Q2020, export of Turkey dropped by 4 percent compared to the same period of 2019, amounting to $42.7 billion.
In the reporting period, Turkey’s import exceeded $55.6 billion, showing an increase of 10.3 percent over the year.
The foreign trade turnover of Turkey amounted to $374.2 billion in 2019.
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