Turkey’s exports to Russia declined to $1.4 billion in the first three months of 2014 from $1.7 billion in the same period of the previous year. They fell to $912 million in the first quarter of 2015 and to $353 million in the first quarter of 2016. Exports reached $498.1 million in the first quarter of this year, soaring by 40.9 per cent compared to the same period last year.

Imports from Russia to Turkey neared $6.2 billion in the first quarter of 2013 and rose to $6.7 billion in the same period of 2014. They dropped to $3.9 billion in the first quarter last year from nearly $6 billion in the same period of 2015. Imports from Russia neared $4.4 billion in the first quarter of this year with an 11.5 per cent increase compared to the same period last year.

There was also a significant increase in the amount of Turkey’s exports to Russia in apparel, boilers and machines, electric machines and motor land vehicles.