Iran’s exports to Turkey down 74% y/y in October: Report
A study complied by the Tehran Chamber of Commerce (TCCIM) shows Iran’s exports to Turkey suffered a considerable decline in the 10 months to the end of October mainly because a drop in crude and oil product shipments.
Excerpts of the TCCIM analysis published Monday showed that shipments from Iran to Turkey had dropped nearly 74 percent year on year in October to $795 million.
The report said that the declined exports of crude and other oil products, including petrochemicals, were mainly a result of American sanctions on Iran’s energy sector.
Trade restrictions imposed to curb the spread of the coronavirus were also to blame, especially from March onwards when the number of infections reported in Iran began to grow, said the study, cited in a report by the semi-official ISNA news agency.
It said that Iran’s October exports to Turkey had remained stable on the previous month and against October 2019 at $94 million.
Total trade between Iran and Turkey in the 10 months to October declined by $1.7 billion to nearly $2.15 billion, showed the TCCIM analysis.
The figures showed that Iran’s imports from Turkey also fell by 29 percent year on year in October at $1.35 billion.
Main exports items from Iran to Turkey over the period were plastic materials, copper, fertilizers, aluminum, mineral fuels and precious stones while imports from Turkey mostly covered boilers, machinery and mechanical equipment, tobacco, paper and cardboard and timber, said TCCIM.
Recent figures released by the Iranian customs office shows Turkey is no longer among the top four export destinations for Iran as it came behind Iraq, China, the United Arab Emirates and Afghanistan in terms of the value of shipments received in the first 10 months of 2020.
Iran had a trade surplus of nearly $1.1 billion with Turkey in the 10 months to October 2019.
Expo 2024: Iran’s door to international markets
Iran says IsDB approved its proposal for preferential financing
Tehran economic conference: Raeisi hails Iran-Africa expansion of ties
‘Saudi steps up arrests of Israel critics amid normalization prospect’
Houthi: Yemen preparing for 'fourth phase' of Red Sea operations
Report: Turkey halts all trade with Israel over war on Gaza h
Macron: Western troops in Ukraine possible if front lines breached
University in Tehran offers scholarship to expelled students in US, Europe
All European nationalists are hidden Brexiteers: Macron
Iran says all crew of seized ship released on 'humanitarian' grounds
VIDEO | Seoul activists demand arms embargo against Israel
This makes it easy to access the Press TV website
