Türkiye’s exports to UK reach record high of USD8.3B in 8 months
Date
9/15/2024 3:16:21 AM
(MENAFN) In the period from January to August, Türkiye achieved a record high in its exports to the UK, reaching USD8.3 billion, marking the most substantial performance for the first eight months of any year to date. This figure represents a significant year-on-year increase of 10.8 percent, as reported by the Turkish Exporters Assembly and compiled by a Turkish news agency. The impressive growth underscores Türkiye's expanding trade relationship with the UK and highlights the country's growing influence in international markets.
Among the various export categories, automotive products led the way with the highest contribution, amounting to USD2.7 billion during the January-August period. This represents an increase of USD602 million compared to the previous year. Electrical products also played a crucial role, with exports valued at USD1.1 billion. Additionally, clothing and apparel products generated USD982.1 million in exports, while chemical products contributed USD578.2 million to the total export figures. These categories reflect the diverse nature of Türkiye's export portfolio and its strong performance across multiple sectors.
Other notable increases included machinery products and parts, which saw a rise of USD31.4 million, bringing their total to USD202.2 million. Steel exports also experienced a significant boost, climbing to USD427.3 million, which is an increase of USD147.6 million from the previous year. Additionally, exports of furniture and forestry products to the UK reached USD286.5 million, up by USD25.3 million, and jewelry exports increased by USD24.1 million, totaling USD68.3 million for the period. These figures illustrate the growth and expansion of Türkiye's export capabilities in various industries.
Overall, Türkiye's total exports for the first eight months of the year reached USD170.8 billion, reflecting a 3.9 percent increase compared to the same period last year. Germany remained the top recipient of Turkish exports, receiving USD12 billion worth of goods, followed by the United States with USD8.8 billion, the UK with USD8.3 billion, Italy with USD7.6 billion, and Iraq with USD6.8 billion. These figures highlight the key markets for Turkish exports and the country's strong position in global trade.
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