TEHRAN - The value of Iran’s exports to neighboring Turkey stood at $820 billion in the first four months of 2023, according to the figures recently released by the Turkish Statistical Institute.

The exports to Turkey in the mentioned four months declined 33 percent compared to the same period in 2022; Turkey had imported over $1.231 billion worth of commodities from the Islamic Republic in the first four months of the previous year.

Based on the mentioned data, Iran’s imports from the country also marked a four-percent decline to hit $904 million during January-April in comparison with the same time span in 2022 when the figure was $942 million.

According to the Turkish Statistical Institute, the trade between the two countries has registered a 20-percent decline in the said four months compared to the same period in the previous year.

The value of trade between the two neighbors reached $1.725 billion in January-April, while the figure stood at $2.173 billion in the previous year’s same time span.

More than 40 percent drop in natural gas prices has been said to be the most important reason for the drop in the value of trade between Iran and Turkey in the first four months of 2023.

The trade between Iran and Turkey stood at $6.42 billion in 2022, 15 percent more than the figure in 2021 when the figure was $5.59 billion.

The value of Iran’s exports to Turkey increased by 19 percent to reach $3.35 billion in 2022; Turkey had imported over $2.82 billion worth of commodities from the Islamic Republic in 2021.

Iran’s imports from the country also marked an 11-percent rise to hit $3.07 billion in the past year, in comparison with 2021, when the figure was $2.77 billion.

Iran's trade balance with Turkey has been $280 million positive in favor of Iran in the past year.

EF/MA