Türkiye’s efforts to spice up bilateral commerce with Middle Eastern international locations have resulted in a big leap ahead in exports to the United Arab Emirates (UAE) and Saudi Arabia within the first quarter of this yr.
In March, Türkiye signed a Comprehensive Economic Partnership Agreement with the UAE, whereas additionally strengthening commerce relations with Saudi Arabia by means of numerous visits and contacts.
Based on knowledge from the Turkish Exporters Assembly (TIM), Türkiye’s exports to the UAE elevated by $262.7 million within the first quarter of this yr in comparison with the identical interval final yr, reaching $1 billion. Similarly, exports to Saudi Arabia elevated by $541.9 million, reaching $611.8 million.
Saudi Arabia now ranks second by way of international locations during which Türkiye elevated its overseas gross sales probably the most, whereas the UAE ranks fourth. The UAE is at present the thirteenth nation to which Türkiye exports probably the most, and Saudi Arabia is the twenty first.
The UAE accounted for 1.7% of the nation’s whole exports, whereas Saudi Arabia accounted for 1%.
During the stated interval, the UAE confirmed the best demand for the jewellery sector, whereas Saudi Arabia confirmed the best demand for the carpet sector.
The jewellery trade exported $371.6 million to the UAE throughout this era, adopted by the chemical substances and merchandise trade with $71.1 million, the ready-made clothes and attire trade with $50.1 million, the electrical energy and electronics trade with $49.7 million, and the aquaculture and animal merchandise trade with $49.5 million.
Meanwhile, the carpet trade bought $85.5 million to Saudi Arabia within the first quarter, whereas cereals, pulses, oilseeds, and associated merchandise accounted for $65.1 million in exports to Saudi Arabia.
The ready-made clothes and attire trade exported $58.7 million, whereas the chemical substances and merchandise trade exported $57.3 million, and the electrical energy and electronics trade exported $44.7 million.
In the primary quarter, corporations based mostly in Istanbul had the best exports to the UAE and Saudi Arabia. During this era, Istanbul-based corporations achieved overseas gross sales price $634.5 million to the UAE and $260.2 million to Saudi Arabia.
Central Çorum province exported $103.7 million to the UAE, adopted by western Izmir with $42.0 million, northwestern Bursa with $34.2 million, and southeastern Gaziantep with $33.1 million.
Similarly, overseas gross sales to Saudi Arabia had been price $93.7 million from Gaziantep, $41.1 million from the capital Ankara, $31.6 million from southern Hatay, and $22.4 million from Bursa.
Source: www.dailysabah.com
