TEHRAN (Realist English). In the first six months of 2022, the value of Iran’s exports to Turkey increased by 61%, reaching $1.904 billion. This is reported by the Tehran Times with reference to the data of the Turkish customs.
The trade turnover between Tehran and Ankara increased by 37% to $3.365 billion compared to $2.448 billion, which were recorded for the same period last year. Iran’s imports from Turkey also increased by 15% and reached $1.461 billion in the period from January to June — compared to the same time period in 2021.
According to the Islamic Republic of Iran Customs Administration (IRICA), for the first four months of the Iranian calendar year (from March 21 to July 22) Iran exported $2.06 billion worth of non-oil goods to Turkey. Turkey is the fourth main destination for Iranian exports over a four-month period. In the first four months of 2022, Iran imported $1.787 billion worth of goods from Turkey.
Turkey was Iran’s second source of imports in the mentioned time span. The northwestern neighbor was Iran’s second trade partner in the first quarter of the present year. Increasing non-oil exports to neighboring countries is one of the major plans that the Iranian government has been pursuing in recent years.
The volume of trade between Iran and Turkey increased from $1.2 billion in 2001 to $5.6 billion in 2021. Of this amount, $2.7 billion is accounted for by Turkish exports to Iran, and $2.8 billion is accounted for by Iran’s exports to Turkey. Machinery and equipment are among the main exports of Turkey to Iran. And from Iran, the Turks import mainly materials such as copper and plastic. In July 2022, inflation in Turkey reached a record 79.6%.
