(MENAFN) Turkey’s works hard to grow exchange and investment relations with Latin American nations are bearing fruit, as Turkey’s goods and services shipments witnessed a huge surge in recent years.
Turkey’s shipments to Latin America and Caribbean (LAC) nations climbed from USD296.6 million in 19 years ago (2003) to USD6 billion last year due to the nation’s policy of outreach to Latin America.
The area's stake of Turkey’s shipments also surged from 0.6 percent up to 2.7 percent in the stated time span.
Brazil, Mexico, Chile, Peru as well as Colombia were the major markets of Turkish shipment in the area, with USD3.5 billion last year.
The nation's imports from Latin America and Caribbean's also jumped to USD8.9 billion last year against USD1.2 billion in 2003.
This rising trend has carried on this year, as Turkey’s shipment to LAC rose 14.1 percent annually to USD4.3 billion in in the first 8 months this year whereas imports flew to 47.9 percent to 8.4 billion.
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