It was a year of significant growth for the Turkish natural stone sector, particularly in exports to Saudi Arabia. These exports saw a dramatic upturn of 114 percent, soaring from 41 million dollars in 2022 to 81 million dollars in 2023. This surge in demand is largely credited to a series of company visits by a trade delegation to Dammam and Riyadh, where they inspected warehouses, showrooms, and production and processing facilities.
Turkiye’s Aegean Region Experiences Export Boom
Alongside this, the exports from the Aegean Region of Turkiye to Saudi Arabia also saw a substantial rise of 71 percent, topping off at 24 million dollars. This was comprised entirely of processed products. It’s a strong indication of the sector’s intent to expand its exports to Saudi Arabia to a projected 500 million dollars in the medium term.
Saudi Arabia’s Economic Performance Fuels Demand
Saudi Arabia’s robust economic performance, boasting a growth of 7.6 percent in 2022 fueled by oil revenues, has been a contributing factor to this increased demand for Turkish natural stone.This reflects the kingdom’s substantial investment in construction, infrastructure, and tourism.
Turkey’s Expanding Global Footprint
Globally, Turkiye managed to export natural stone to a staggering 183 countries. China led the way in these exports at 432 million dollars following a 3 percent increase. The United States, previously leading in 2022, slipped to second place with a decrease of 15 percent, culminating in 388 million dollars in exports. India saw a commendable 17 percent increase to 159 million dollars, while Iraq secured fifth position with a demand worth 104 million dollars. All these figures underscore Turkiye’s expanding global footprint in the natural stone sector, with Saudi Arabia emerging as the most notable growth market.
Source: bnnbreaking