TÜİK defends exports data methodology

ANKARA - Doğan News Agency

Iran’s large imports of gold from Turkey sparks speculations in the local media. AA photo

The Turkish Statistical Institute (TÜİK) is not required to inquire the reasons for exports and imports, TÜİK said yesterday in a written statement reacting to comments on a spectacularly high amount of gold exports to Iran in the local media.

The export figures are compiled and classified in line with the United Nations international trade codes, TÜİK said.

“Reports and comments aim to make TÜİK’s data appear shady, as if gold exports were included in the foreign trade statistics for the first time, although foreign trade data is disclosed in a detailed fashion on the website of the institute,” the statement read.

TÜİK claimed that assessments on the gold export data were not based on objective grounds as the issue was not brought up in periods when gold imports were high.

Turkey’s overall exports to the Islamic republic increased by 471 percent in June reaching nearly $1.6 billion thanks mainly to gold sales. Precious metal and stone sales skyrocketed by nearly 693 percent year-on-year to $1.6 billion in June, $1.3 billion of which were sold only to Iran, data show.

Iran is under growing economic and financial sanctions, which hamper the ability of the country to execute international payments via the international banking system. And as a result, Iran conducts payments in gold, according to claims.