Turkiye’s Exports to Africa Jump to $6 Billion in the First Four Months

In the initial four months of the year, Turkiye’s exports to African countries soared to an impressive $6 billion, showcasing the nation’s growing economic ties with the continent.

In light of Africa Day celebrated on May 25, significant advancements have been noted in Turkiye’s economic relationships with African nations, following concerted efforts to strengthen ties over the years.

Since 2005, Turkiye has prioritized enhancing its connections with Africa, with Turkish investments in the continent surpassing $10 billion. Turkish businesses, implementing a strategy of diversifying markets, have achieved noteworthy success in alternative markets, with the African continent emerging as a pivotal contributor to this achievement.

According to data compiled from the Turkish Exporters Assembly (TIM), Turkiye witnessed a 2% increase in exports to African countries during the first four months of this year compared to the same period in 2023, reaching a significant milestone of $6 billion.

During the January-April period, exports to African countries accounted for 7.2% of Turkiye’s total exports, positioning African nations as the fifth-largest export destination among the 12 country groups.

Key export destinations in Africa during this period include Egypt, Morocco, Algeria, Libya, and Tunisia, with Egypt leading the pack at $1.1 billion in exports, followed by Morocco with $982.7 million, Algeria with $766.5 million, Libya with $669.5 million, and Tunisia with $325.1 million.

Notable increases in export value were observed particularly in Egypt, Morocco, and Algeria, with Egypt seeing a rise of $210.9 million, Morocco $95.6 million, and Algeria $95 million.

The chemical substances and products sector dominated exports to African countries during this period, followed by cereals, pulses, oilseeds and their products, steel, the automotive industry, and textiles and raw materials.

Conversely, sectors such as ornamental plants and products, olives and olive oil, fresh fruits and vegetables, dried fruits and products, as well as hazelnuts and their products, recorded lower export figures.

Source: AA / Prepared by Irem Yildiz

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