Iran has experienced 78% surge in its billet and bloom exports to Turkey. This surge solidifies Iran rise to the fifth place in Turkey's semi-finished goods import points to a significant growth in trade relations between the two countries. This increase underscores the growing economic ties and mutual cooperation between Iran and Turkey in the realm of industrial exports.
Throughout the first half of 2023, Turkey diversified its sources of billet and bloom imports, engaging with a range of countries for its supply. Notably, Russia emerged as the predominant supplier, accounting for 48% of Turkey's imports, followed by Algeria at 19%, and Oman at 9%.
The remaining 13% was distributed among Malaysia, Iran, Republic of Azerbaijan, Kuwait, India, Belarus, and Pakistan, showcasing a collaborative effort among these nations in contributing to Turkey's industrial imports.