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Turkey-Iran Economic and Trade Relations

Economic Outlook of Iran (2014):

GDP (billion USD)

: 411

Economic Growth (GDP %)

: 1.5

GDP per capita (USD)

: 5.200

Population (million)

: 78.13

Population growth (%)

: 1.2

Inflation Rate (%)

: 15.2

Unemployment Rate (%)

: 14

Export (billion $)

: 94.9

Import (billion $)

: 64.6

Number of Turkish companies in Iran

: 130

Number of Iranian companies in Turkey

: 3604

Resource: Turkish Ministry of Economy

Main trade partners: China, India, South Korea, Turkey.

Main export products: Mineral fuels, oils, distillation products, plastics, iron and steel.

Main import products: Cereals, electrical and electronic equipment, vehicles other than railway.

Bilateral Trade between Turkey and Iran

 

2011

2012

2013

2014

2015

Turkey’s export (billion USD)

3.59

9.92

4.19

3.88

3.67

Turkey’s import (billion USD)

12.46

11.97

10.38

9.83

6.10

Volume

16.05

21.89

14.57

13.71

9.77

Balance

-8.87

-2.05

-6.19

-5.95

-2.43

Resource: Turkish Statistical Institute

Turkey’s main exports to Iran: Gold, iron and steel, textile yarn, fabrics, land transportation vehicles.

Turkey’s main imports from Iran: Raw petroleum materials, natural gas, plastics in primary forms, metals other than iron and organic chemicals.

Number of Iranian visitors: 1.590.664 (2014), 1.700.385 (2015).

Bilateral Cooperation Mechanisms:

- Joint Economic Commission (JEC): The last Session of JEC between Turkey and Iran was held on April 15-17, 2014 in Tehran.

- Business Council: Turkey-Iran Business Council was established in 2001. The last meeting of the Council was held on October 5-6, 2009, in İstanbul.

- Land Transport Joint Committee: The last meeting of Turkish-Iranian Land Transport Joint Committee was held on April 28-29, 2014 in Istanbul.