Iran, Turkiye Trade Hits $3 Billion in 7 Months

Based on a report by the Turkish Statistical Institute (TURKSTAT), the value of trade exchanges between the two countries reached $3.25 billion from January to July, showing a 21 percent decline compared to the same period of last year.

The report put Turkiye’s export of products to Iran from January to July 2023 at $1.663 billion, registering a two percent decline compared to last year’s corresponding period.

Turkiye exported over $1.701 billion worth of products to Iran from January to July 2022.

Turkiye imported $1.362 billion worth of products from Iran in the first seven months of the current year, indicating a 36 percent slump compared to the same period of last year.

Statistics showed that the trade balance between Iran and Turkiye from January to July 2023 stood at $301 million in favor of Turkiye.

Iran and Turkiye exchanged $3.846 billion worth of products from January to July 2022.

Managing director of National Iranian Gas Company (NIGC) announced in August that the country's gas exports to the two neighboring countries of Iraq and Turkiye increased by 16 percent during last Iranian year (ended March 20, 2023).

Majid Chegeni, The managing director of the NIGC said in a press conference that amount of gas exports to Iraq and Turkiye during last Iranian year increased by 16%, adding that the LPG production also witnessed an increase after the completion of gas transmission infrastructure in South Pars.

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