Iran-Turkey Trade Up By 45.89% In 10 Months

Ankara, Dec 9, IRNA – The monetary value of Iran-Turkey trade reached $20 billion in 10 months to November, showing a 45.89 percent growth in value compared to the same period the previous year. The two countries' trade stood at $19.697 billion last year. The rapid growth of trade in 2012 was due to a 243.5 percent growth in Turkey's exports to Iran compared to the same period the previous year. Gold figured prominently in the list of Turkey's exports to Iran, accounting for more than $7bn of the total figure. Turkey's exports to Iran were worth over $2.927 billion in the first 10 months of 2011, which rose to $9.329 billion during the said months in 2012. In contrast, Turkey's imports from Iran in the 10-month period in 2011 equaled $10.573 billion, which rose to $10.368 billion in the same period in 2012. Turkey exports gold to Iran in exchange for oil and gas. It started exporting gold to Iran from February this year./end