Iran’s non-oil trade turnover with Türkiye booming
The non-oil trade turnover between Iran and Türkiye increased by 30.7% percent in volume, and 7.1% in value during the first 3 months of the current Iranian year (March 21 – June 21, 2023), compared to the same period in the last year, according to the Iranian Customs Administration (IRICA).
Iran’s non-oil trade turnover with Türkiye for the period amounted to 4.93 million tons worth US$3.23 billion indicating a trade sector worth about US$12.6 billion for the year.
This was made up of agricultural and food products, petrochemical products, industrial and mining products, various types of equipment, raw materials, clothing, being were the main goods traded between the two countries. About 50% of the quarter’s trade took place in June.
Overall, Iran’s non-oil trade turnover amounted to 44.1 million tons worth US$26.5 billion within the first three months of the current Iranian year, indicating a non-oil trade sector valued at about US$110 billion for the 12 months. Iran has a GDP of about US$368 billion and 2.2 percent growth for Iran’s economy in 2023, a figure which is higher than the average growth forecast for the global economy and despite the country still being under sanctions imposed by the United States.
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