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Iran-Turkey trade up 5% in five months: TURKSTAT
The Turkish Statistical Institute (TURKSTAT) had already put the trade exchanges between the two countries from January to May 2023 at $2.189 billion, IRNA reported.
According to the report, Turkey exported $1.34 billion of commodities to Iran from January to May 2024, showing a 16 percent hike compared to the same period last year.
Turkey had exported over $1.151 billion of products to Iran from January to May 2023, it said.
It added that Turkey exported $285 million of products to Iran in May 2024, indicating a 14-percent growth compared to the same period last year.
Turkey imported $262 million of goods from Iran in May 2024, registering a 20 percent growth compared to last year’s corresponding period.
Turkey had exported over $249 million of products to Iran in May 2023 and also had imported $217 million of goods in this period, the report added.
Figures by the European Union’s statistics agency, Eurostat, published in the Iranian media on Sunday showed that Turkey had resumed importing oil from Iran in March this year nearly four years after it cut shipments to zero to comply with US sanctions on Tehran.
Eurostat data showed that Turkey had imported 576 metric tons (mt) of oil from Iran in March and another 485 mt in April.
The last time Turkey had imported oil from Iran was in August 2020 when the country bowed to US pressure and stopped the imports.
Turkey imports sizable amounts of natural gas from Iran to meet the increasing demand for energy in its manufacturing sector.
The country is seeking to increase gas imports from Iran via a new scheme which allows Iran to import Russian gas and supply it to countries located to its west and east.