Trade volume between Iran and Turkey decreased

According to data released by the Turkish Statistical Institute (TUIK), trade figures between Iran and Turkey in the first four months of 2023 showed a 20 per cent decrease. Compared to last year, the trade volume between Iran and Turkey was $2 billion 173 million, while this year it decreased to $1 billion 725 million. One of the factors driving this decrease is thought to be the more than 40% decrease in the prices of natural gas.

According to this report, in January-April 2023, Turkey's export volume to Iran reached $904 million, down 4% compared to the same period last year. There was also a decrease in the volume of exports from Iran to Turkey. This decrease decreased by 33% compared to 2022, with Turkey importing goods worth $ 1 billion 231 million, decreasing to $ 821 million in the same period of this year.

According to the data, in the first quarter of 2023, Germany, Italy and the Netherlands were known as Iran's three largest trading partners in the European Union, while Turkey's largest exporter was Germany and the country's largest source of imports was Russia.