Iran reports significant rise in exports to Turkey
Iran has reported a major surge in its exports to neighboring Turkey despite a decline in overall export figures caused by a brief war with Israel in June.
Figures released by the Iranian Customs Administration (IRICA) on Sunday showed that Iranian exports to Turkey reached $2.718 billion in the six months to September 22, up 14% from the same period last year.
The data showed that Iran’s imports from Turkey declined by 22% year on year in the April-September period to $4.324 billion.
Petrochemicals and oil products accounted for 48% of Iranian exports to Turkey in the six months to late September, IRICA said, adding that nearly one-third of exports consisted of minerals and mining products.
Manufactured goods and agrifood products accounted for 15% and 4% of Iranian exports to Turkey, respectively, in the first six months of the current calendar year, according to customs figures.
Natural gas, urea fertilizer, and aluminum products were the main Iranian export items to Turkey during the period, while key imports from Turkey included manufactured goods, minerals, and agrifood products, the data showed.
Turkey has remained a major trading partner for Iran in recent years despite US sanctions aimed at restricting Iran’s access to international markets.
Turkey is the fourth-largest importer of Iranian goods and the third-largest exporter to Iran.
The rise in Iranian exports to Turkey has occurred despite a decline in the country’s overall non-oil export performance this year.
IRICA figures released in late November showed that Iran’s exports declined by 3.48% year on year in the eight months to November 21.
A brief conflict with Israel in June disrupted Iran’s access to international shipping routes, negatively affecting the country’s exports.
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Iran reports significant rise in exports to Turkey
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