Türkiye skilled a big surge in its exports to Gulf nations in May, witnessing a progress fee of 29% in comparison with the identical interval within the earlier 12 months and amounting to $1.69 billion (TL 39.55 billion).
Türkiye’s total exports in May confirmed a rise of 14.4% in comparison with the corresponding interval in 2022, hovering to a complete of $21.7 billion, information from the Turkish Exporters Assembly (TIM) confirmed.
Last month, exports amounted to $817.9 million to Iraq, $360 million to the United Arab Emirates (UAE), $166.5 million to Saudi Arabia, $206.9 million to Iran, $55.3 million to Qatar, $46 million to Kuwait, $24.6 million to Oman and $13.6 million to Bahrain.
Saudi Arabia was the nation with the very best proportional improve in exports.
The sector that realized essentially the most exports from Türkiye to the UAE in May was jewellery with $108.3 million.
In the realm of exports, a number of sectors have emerged as vital contributors to varied nations within the Gulf. Saudi Arabia acquired $27.1 million value of carpet exports. Iran, then again, noticed the importation of chemical compounds and associated merchandise amounting to $44 million. Qatar, in the meantime, witnessed an inflow of furnishings, paper, and forestry merchandise valued at $7 million.
Among the sectors that exported chemical compounds and merchandise, the ready-made clothes and attire trade stood out, with $5.3 million directed towards Kuwait, $2.4 million towards Bahrain, and $4.1 million towards Oman.
On the opposite hand, the very best exports to Iraq have been realized within the grains, pulses, oilseeds and associated merchandise sector with $180 million.
In May, Istanbul stood out with the very best exports to the area. Specifically, $208.1 million of exports was made to the UAE, whereas $70.4 million have been to Saudi Arabia. Qatar acquired $26.3 million value of merchandise, and Bahrain acquired $7.6 million. Additionally, exports amounted to $111.1 million for Iran, $23.4 million for Kuwait, $12.12 million for Oman, and $222.2 million for Iraq.
Source: www.dailysabah.com
