TEHRAN- Iran’s exports to its western neighbor, Turkey, witnessed an increase of 80 percent during the first seven months of 2017 and stood at $4.5 billion, Tasnim news agency reported on Tuesday.

According to the latest data published by Turkish Statistical Institute, Iran-Turkey trade transactions in the said period increased 16 percent in comparison with the preceding year, and reached $6.3 billion from its previous $5.4 billion. 

As reported, the growth in trade between the two countries is due to the boost in imports of Turkey from Iran. From January to July 2017, Turkey imported $4.5 billion of goods from Iran, registering 80 percent growth from the same time span in 2016 when the figure stood at $2.5 billion.

Meantime, Turkey’s exports to Iran in the same period decreased 37 percent dropping down to $1.8 billion in the said period in 2017 from its previous $2.9 billion in January-July, 2016.

Oil and gas constitute major imports of Turkey from Iran. 

Iran is recognized as the 10th destination of Turkey for exporting its goods while it is the 7th supplier of goods for Turkey, the same report confirmed.

HJ/MA