Economic & Industrial

Foreign exchange inflammation has shaken the trade balance between Iran and Turkey

Foreign exchange inflammation has shaken the trade balance between Iran and Turkey
Mining News Pro - An examination of foreign trade statistics shows that in the first four months of the current year, the trade balance and the volume of imports and exports of Iran and Turkey have seen significant changes.
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According to Mining News Pro - According to Iran`s customs statistics, in the first four months of this year, imports of 432,000 tonnes worth $ 745 million have dropped by 27% from Turkey.

At the same time, the export volume of Iranian 725,000 tonnes of Iranian products to Turkey increased from $ 488 million to $ 551 million, with Iran`s exports rising by 38%.

Significant changes in foreign trade statistics, which indicate a 27% reduction in imports and a 38% export of Iran to Turkey, may be due to foreign exchange infections in two countries.

 The price of the currency in Iran has increased by about 100%, and the value of the Turkish currency has dropped by about 40% by the week before. Thus, it seems that exporting to Turkey, despite common foreign exchange infections, is more costly for Iranian producers than importing goods from the country.


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