Turkey enjoys command in the European market followed by the United States. It is now expanding its market outside markets like Saudi Arabia as its exports to the kingdom surged by 600 percent during the Jan-April period.
This remarkable surge followed the normalization of relations between the two countries. The data Turkish Exporters Assembly (TIM), reveals that Turkish exports to Saudi Arabia in the same period last year amounted to $107.4 million which has increased to $780.5 million.
The leading countries for Turkish exports in the same timeframe were Germany ($6.3 billion), the USA ($3.9 billion), Italy ($3.8 billion), the United Kingdom ($3.6 billion), and Spain ($3.2 billion). Saudi Arabia is not the only country where Turkish exports jumped. The surge was even higher in the Russian Federation, which witnessed an increase of $1.7 billion, making it the top destination for Turkish exports in terms of value during the period.
The carpet industry emerged as the leading sector in Turkish exports to Saudi Arabia, with exports amounting to $109.5 million. Other prominent sectors included cereals, pulses, oilseeds, and related products ($81.3 million), chemicals and products ($77.9 million), ready-made clothing and apparel ($66.9 million), and electrical and electronics sectors ($56.7 million).
The main Turkish cities contributing to these exports were Istanbul ($336.2 million), Gaziantep ($120.8 million), Ankara ($48.4 million), Hatay ($44.7 million), and Bursa ($28.6 million).
This surge in exports to Saudi Arabia and Russia shows that trade normally remains hostage to the countries’ bilateral relations. Overall, the remarkable growth in Turkish exports to Saudi Arabia reflects the positive outcome of the improved relations between the two countries.
Turkey penetrating the Saudi market
