Turkiye’s exports to Russia reached an all-time high monthly figure of $738 million 527 thousand in August.
Turkiye maintains its strong export performance despite ongoing geopolitical risks.
Despite the disruptions in the global supply chain due to the Russia-Ukraine war and the negative impact of the countries’ trade relations with Russia, Turkiye continues to effectively continue its trade with Russia with its balance strategy and effective foreign policy.
Although there were delays and disruptions in orders at the beginning of the war, trade between Turkiye and Russia continues to increase with the solution-oriented approach of Turkish exporters.
Thus, Turkiye broke a monthly export record to Russia in August.
According to the information compiled from the data of the Turkish Exporters’ Assembly (TIM), Turkiye’s exports increased by 13.1% in August compared to the same period of the previous year and rose to $21 billion 340 million.
Turkiye’s exports to Russia reached an all-time high monthly figure of $738 million 527 thousand in August.
Turkiye’s exports to Russia increased by 87.2% in this period compared to the same period of the previous year. Russia’s share in Turkiye’s exports was 3.5%.
Thus, Russia became the sixth country to which Turkiye exports the most in August.
The top five countries with the highest exports were Germany with $1 billion 504 million, the USA with $1 billion 308 million, the United Kingdom with $1 billion 40 million, Iraq with $934 million 807 thousand, and Italy with $819 million 286 thousand.
Russia is also at the top in export growth on a value basis
In August, Turkiye realized the highest increase in exports on a value basis to Russia. In August, Turkiye’s foreign sales to Russia increased by $344 million 53 thousand compared to the same period of the previous year.
Turkiye recorded an increase of $182 million 391 thousand in exports to the USA, $161 million 432 thousand to Iraq, $146 million 450 thousand to the United Arab Emirates, and $122 million 502 thousand to the Republic of South Africa.
$359 million 115 thousand were sold to the United Arab Emirates and $174 million 231 thousand were sold to the Republic of South Africa.
The locomotive sector in exports was chemicals and their products.
In Turkiye’s exports to Russia, the chemical substances and products sector made the largest export. The sector exported $167 million to Russia in August.
Russia was followed by machinery and accessories with $71 million 311 thousand, automotive industry with $62 million 172 thousand, fresh fruits and vegetables with $61 million 992 thousand, textiles and raw materials with $48 million 598 thousand.
Source: Trthaber / Translated by Irem Yildiz