News ID: 315615
Published: 0137 GMT August 21, 2021

Iran-Turkey annual trade expected to hit $10b: Trader

Iran-Turkey annual trade expected to hit $10b: Trader

The head of Iran-Turkey Joint Chamber of Commerce stated that the annual trade between the two countries is expected to hit $10 billion in the current Iranian year (started March 21).

Official Turkish statistics show that Iran-Turkey trade has been declining sharply since the second quarter of 2019, and the downward trend in trade with this country has continued until the second quarter of 2020. But since then, it has been on the rise and has increased in the first quarter of 2021 for the third consecutive season”, Mehrdad Saadat noted, according to

He said gas and petrochemicals, raw materials and agricultural products were the major goods traded between the two sides.

The value of trade between Iran and Turkey rose by 53 percent in the first quarter of 2021 from the first quarter of 2020, according to figures by the Tehran Chamber of Commerce, Industries, Mines, and Agriculture (TCCIMA).

The report put the worth of the two countriesbilateral trade at $986 million in the first three months of the current Iranian year.

Of the said figure about $505 million was related to Iran's exports to Turkey and about $481 million was related to Iran's imports from this country.

During the first quarter of 2021, Iran's imports from Turkey increased by about 29 percent compared to the same period last year, and during the same period, Iran's exports to this country increased by 87 percent.

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