Trade turnover between Iran and Turkey during the first three months of 2016 dropped by 28 percent compared to the amount for the same period last year, which was $2.08 billion, the institute's figures showed, reported Fars News Agency on Saturday.
Compared to the same period last year, Turkish imports from Iran in the first quarter of 2016 also witnessed a 41 percent decline, reaching $1.134 billion, the data added.
Imports amounted to $1.929 billion in 2015.
However, Turkish exports to Iran during the same period witnessed a 0.7 percent rise, reaching $876 billion. Ankara's exports stood at $871 billion in the same period in 2015.
According to the report, Iran ranks 12th among the importers of Turkish goods and the eleventh among those supplying the country's import needs during the first three months of 2016.