Iran – Turkey trade turnover hits $2.9B in 4 months

Trade turnover between Iran and Turkey stood at $2.93 billion during the first four months of 2016, according to the latest statistics released by the Turkish Statistical Institute.
The trade turnover between the two countries reached $922 million in April, indicating a rise by 25.5 percent compared to $734 million in April 2015.
The exports of Turkey to Iran in April 2016 valued about $560.7 million, which shows a 104 percent increase.
In April 2016, Turkey imported goods worth $361.4 million from Iran, indicating a 21.4 percent decline.
Turkey’s exports to Iran in the first four months of 2016 amounted to $1.44 billion, 25 percent more year-on-year.
The country also imported $1.5 billion worth of goods from Iran in the period, 37.4 percent less compared to the first four months of 2015.
The trade turnover between the two countries was $13.71 billion in 2014, which stood at $9.76 billion in 2015, indicating a 29-percent plunge.
The sharp decline came amid the plans to boost the annual trade turnover between Tehran and Ankara to $30 billion.
Last November, Iranian and Turkish top economic officials urged for increasing the volume of the bilateral trade between the two countries to $30 billion a year.
In 2014, Iran’s non-oil exports to Turkey reached $2.15 billion. At the same time, Iran on the daily basis exports about 0.1 million barrels of crude oil and 27 million cubic meters of gas to Turkey.
Moreover, Turkey imported 2.4 billion kilowatt hours of electricity from Iran in 2014.
Source: Trend