TEHRAN – The value of Iran’s exports of non-oil goods to Turkey increased by 57 percent in the first five months of 2022, according to the data released by the Turkish Statistical Institute (TURKSTAT).

The released data show that Iran has exported commodities worth $1.536 billion to its neighbor in the mentioned five-month period, IRNA reported.

The total value of trade between the two countries also increased 39 percent to stand at $2.742 billion in the said time span, while the figure was $1.975 billion in the same period of 2021.

Meanwhile, Turkey’s exports to Iran rose 21 percent to stand at $1.206 billion, while the figure was $996 million in the same five months in the past year.

Based on the said data, Iran's trade balance with Turkey was $330 million positive during this period.

As reported, Iran exported $304 million worth of goods to Turkey in May 2022, while importing $262 million worth of commodities. Iran was the 17th export destination and the 19th import source of Turkey in May 2021.

The value of trade between the two neighbors had increased 53 percent to $5.594 billion in 2021.

During a webinar, held in March, on trade relations between Iran and Turkey, which was held through cooperation between Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) and Istanbul Chamber of Commerce (ICOC), and attended by officials from both chambers and a group of entrepreneurs, ways to develop economic relations between the two countries and some problems in this due were examined.

In this virtual conference, which was attended by more than 250 entrepreneurs from Iran and Turkey, the opportunities for cooperation between the two countries were examined and the two sides emphasized the development of cooperation.

Addressing the conference, Nihat Alayoglu, the secretary-general of Istanbul Chamber of Commerce, referring to the political, economic and cultural similarities between Iran and Turkey, said: "The two countries have long-standing relations dating back more than 400 years, and more than 500 kilometers of common border, as well as several trade agreements with each other, in particular, the preferential trade agreement, which was concluded in 2015, is very important for both countries.”

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