With the steps taken to improve commercial relations, Turkiye took a leap forward in exports to the United Arab Emirates (UAE) and Saudi Arabia in the first quarter of this year.
Turkiye’s efforts to increase bilateral trade with Middle Eastern countries, one of its traditional markets, are bearing fruit. In this sense, the export performance especially to the UAE and Saudi Arabia draws attention.
Signing a Comprehensive Economic Partnership Agreement between Turkiye and the UAE and making contacts to strengthen trade relations between the two countries by visiting Saudi Arabia in March were important steps taken to increase foreign sales to these countries.
According to the information compiled from the data of the Turkish Exporters Assembly (TIM), Turkiye’s exports to the UAE increased by $262 million 722 thousand in the first quarter of this year compared to the same period of the previous year and reached $1 billion 23 million.
Exports to Saudi Arabia increased by $541 million 906 thousand to $611 million 816 thousand.
Saudi Arabia became the second country in which Turkiye increased its foreign sales the most in terms of value, while the UAE became the fourth country.
The UAE was recorded as the 13th country to which Turkiye exports the most, and Saudi Arabia as the 21st country.
The UAE’s share in Turkiye’s total exports was 1.7%, and Saudi Arabia’s 1%.
Jewelery in UAE, carpet industry in Saudi Arabia
In the first quarter, the highest demand for the jewelery sector came from the UAE, and the highest demand for the carpet sector came from Saudi Arabia.
The jewelry industry exported $371 million 640 thousand to the UAE in the first quarter. The jewelery industry was followed by chemicals and products with $71 million 115 thousand, ready-made clothing and apparel with $50 million 101 thousand, electricity and electronics with $49 million 671 thousand, aquaculture and animal products with $49 million 460 thousand.
The carpet industry exported $85 million 479 thousand to Saudi Arabia in the first quarter. Cereals, pulses, oil seeds and products exported to Saudi Arabia amounted to $65 million 142 thousand, ready-made clothing and apparels $58 million 747 thousand, chemicals and products $57 million 293 thousand, electricity and electronics sector $44 million 742 thousand.
The most exports to countries were made from Istanbul
Companies from Istanbul made the most exports to the UAE and Saudi Arabia in the first quarter.
In the said period, companies from Istanbul realized $634 million 530 thousand of foreign sales to the UAE and $260 million 227 thousand to Saudi Arabia.
Exports to the UAE amounted to $103 million 730 thousand from Corum, $42 million 30 thousand from Izmir, $34 million 209 thousand from Bursa and $33 million 53 thousand from Gaziantep.
On the other hand, foreign sales to Saudi Arabia amounted to $93 million 680 thousand from Gaziantep, $41 million 124 thousand from Ankara, $31 million 610 thousand from Hatay and $22 million 415 thousand from Bursa.
Source: Trthaber / Prepared by Irem Yildiz