Trade between Turkey and Russia increases for first time in three years
The trade between Turkey and Russia have increased for the first time since 2014, Anadolu agency reported citing the Turkish Statistical Institute (TurkStat).
In January 2017, the exports from Turkey to Russia increased by 59.1% and have reached $150 million, Turkey’s income from exporting fruits and vegetables to Russia reached almost $38 billion, due to the lifting of some restrictions on trade between the countries.
The import rates from Russia increased in January by 10.2% to $1.5 billion, making Russia the second-largest exporter to the country after China, the institute said, adding that energy and steel made the biggest parts of the trade.
On January 1, 2016, Moscow imposed a number of restrictive measures, including a ban on food and flower imports, on Ankara in response to the downing of a Russian military aircraft by a Turkish fighter jet in Syria on November 24, 2015.