Turkey and Iran Historical business parteners

  • August 5, 2021

According to the Khabaronline news agency and quoting the Iranian Chamber of Commerce, Industries, Mines and Agriculture; official Turkish statistics show a 53% increase in trade with Iran in the first quarter of 2021 compared to the same period last year; Given that the corona restrictions were almost the same in both periods, it seems that with the reduction of currency tensions and also the change of political atmosphere in the post-Trump period, the ice of Iran’s trade with Turkey is opening up.

Despite the signing of a preferential agreement and a long history of trade, Iran and Turkey have continued to fail to bring their exchanges to a level commensurate with their capacity, but in recent years, sanctions between Iran and Turkey have reached a record low due to sanctions, currency tensions, and the corona. Currently, official statistics show that it is improving.

The positive trade balance in favor of Iran

According to official statistics from Turkey, Iran’s trade with this country in the first quarter of 2021 amounted to $ 986 million, which shows an increase of about 53% compared to the same period last year.

The Tehran Chamber of Commerce’s economic studies show that out of a total of $ 986 million in Iran-Turkey trade, about $ 505 million was related to Iran’s exports to Turkey and about $ 481 million was related to Iran’s imports from this country. Meanwhile, in the first quarter of 2020, the main trade between Iran and Turkey was related to Iran’s imports from this country.

According to these statistics, in the first quarter of 2021, the trade balance between Iran and Turkey has been positive in Iran’s favor; In this period, despite a 29 percent increase in Iran’s imports from Turkey compared to the same period last year, Iran’s exports to this country also faced a significant growth of 87 percent and caused Iran’s trade balance with Turkey from minus 104 million dollars in the first quarter of 2020 to Positive to reach $ 24.4 million in the first quarter of 2021. In fact, the trade balance between the two countries in these two periods, equivalent to 128 million dollars, has changed in favor of Iran

Seasonal trend of Iran’s trade with Turkey

Official Turkish statistics show that Iran-Turkey trade in goods has been falling sharply since the second quarter of 2019, and the downward trend in trade with this country has continued until the second quarter of 2020, But since then it has been on the rise and has increased in the first quarter of 2021 for the third consecutive season.

It is noteworthy that Iran’s imports of goods from Turkey have started an upward trend since the second quarter of 2020, but in the first quarter of 2021, after two consecutive months, it has decreased and reached its lowest level since the beginning of 2019. At the same time, Iran’s exports to Turkey, which are mainly non-oil, increased for the third consecutive quarter and reached $ 496 million in the first quarter of 2021.

Iranian exported goods to Turkey

A review of the Iran-Turkey trade record in the 2021 quarter shows that 98.1% of the total value of Iran’s exports to this country was only 20 items, which indicates the low diversity of Iran’s exports to this country.

A review of the list of 20 items exported from Iran to Turkey shows plastics and their components with a share of 37% and after, copper and copper products with a share of 19%, zinc, and its products with a share of 11% and aluminum and its products with a share of 10% of the total The value of exports is the major part of Iran’s exports to Turkey.

Statistics show that these four commodity groups are at the top of the list of major export chapters of Iran to Turkey, while the value of their exports has more than doubled compared to the first quarter of 2020. Studies show that among the top 20 items exported from Iran to Turkey, exports of flour industry products including malt, starch, semolina, inulin and gluten of wheat, and vegetable products, fruits, and vegetable products have grown.

Turkish exported goods to Iran

Although the bulk of Iran’s exports to Turkey in the first quarter of 2021 were limited to 20 items of export goods; But studies show that the 20 major items of Turkish exports to Iran this season account for about 81% of the total value of Turkish exports to this country, and the situation in this country in terms of diversity of export products is somewhat better than the other side.

A study of Turkish exports to Iran in the first quarter of 2021 shows that the largest share of Turkish exports to Iran is hot water boilers, machinery, and electronic devices and their components and parts, which account for 17% of the total. It includes the value of Turkish exports to Iran, and its value has grown by about 13% compared to the same period last year to about $ 82 million.

After that, synthetic or non-synthetic fibers, with a share of 7.3 percent, and plastics and articles made from these materials, with a share of 7 percent, are next on the list. Studies show that among the top 20 items imported from Iran in Turkey in the first quarter of 2021, with the exception of synthetic or synthetic non-solid fibers and wood pulp or other cellulosic fibers, the value of imports in other seasons The same period last year was accompanied by an increase.

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