Iran exports commodities to Turkey valued at USD2.4B in H1
Date
10/9/2024 5:12:42 AM
(MENAFN) In the first half of the current Iranian calendar year, which spans from March 20 to September 22, Iran exported non-oil goods worth USD2.4 billion to Turkey. This figure positions Turkey as the fourth-largest export destination for Iran among its neighboring countries during this six-month period. The strengthening trade relations between the two nations highlight Turkey's significance in Iran's export portfolio, particularly in the context of regional economic dynamics.
In addition to its exports, Iran imported commodities valued at USD5.1 billion from Turkey, making it the third-largest source of imports for Iran in the same timeframe. This bilateral trade underscores the importance of Turkey as a trading partner for Iran, facilitating the flow of goods and services between the two countries. The head of the Islamic Republic of Iran Customs Administration (IRICA) previously noted that Iran's non-oil exports to its 15 neighboring countries rose by 12 percent during the first half of this year compared to the same period last year.
According to Mohammad Rezvanifar, Iran exported 39 million tons of non-oil products valued at USD15.6 billion during the first six months, marking a four percent increase in weight year on year. Overall, Iran's total non-oil trade with its neighboring countries reached 50 million tons, worth USD32.6 billion during this period. Rezvanifar also highlighted that non-oil trade with neighboring countries grew by five percent in weight and 15 percent in value during the first half of this year compared to the same period last year, indicating a robust trade environment despite prevailing economic challenges.
Furthermore, imports from neighboring countries saw an increase of eight percent in weight and 18 percent in value during the first half of this year compared to the previous year. In early September, a meeting took place between a delegation from the Tehran Chamber of Commerce, Industries, Mines, and Agriculture (TCCIMA) and senior directors of the Turkish Exporters Union (TiM) in Istanbul. The discussions focused on enhancing trade relations between the private sectors of the two countries, emphasizing opportunities in tourism, food, textiles, and pharmaceuticals. TCCIMA Head Mahmoud Najafi-Arab noted a positive trade balance of USD1.6 billion between Iran and Turkey, highlighting the potential for optimizing trade relations, particularly through the re-export of certain Iranian products via Turkey.
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