Iran's Trade With Turkey Tumbles 39%

Iran’s trade with Turkey totaled $5.01 billion during the first 10 months of 2019 to register a decrease of 39.24% compared with the corresponding period of 2018, data released by Turkish Statistical Institute show.

Iran exported $3.09 billion worth of goods to Turkey during the period under review, indicating a 50.28% decline year-on-year.

Imports stood at $1.91 billion, down 5.26% YOY.

Iran was Turkey’s 25th biggest export destination and 18th biggest exporter of goods to the country during the period.

Iran’s exports to Turkey in October alone amounted to $94.3 million, down 83.3% YOY while imports from the neighbor during the month went up by 12.89% YOY to $172.58 million.

Data released by the Islamic Republic of Iran Customs Administration on Iran's non-oil trade show liquefied natural gas, non-alloy zinc, aluminum, urea and bitumen were Iran’s main commodities exported to Turkey, while Turkey mainly exported cooking bananas, tobacco and fiber during the last Iranian year (March 2018-19).

source: Financial Tribune