Tuesday, 02 January 2024 12:17 GMT

Türkiye’s Exports to EU Continue to Grow


Date:

(MENAFN) Türkiye’s exports to the European Union increased by 3.9% year-on-year to $81.5 billion between January and September, reflecting continued growth in trade with the bloc, according to figures from the Turkish Exporters’ Assembly (TIM).

The country’s overall exports climbed 5.2% to $210.9 billion during the same period. Shipments to the EU’s 27 member states generated nearly $3.1 billion more than in the corresponding period a year earlier.

Germany remained Türkiye’s largest European export destination, with purchases of Turkish goods rising 4.2% to $15.4 billion. Italy ranked second at $9.6 billion, followed by Spain at $8.3 billion and France at $7.9 billion.

Romania and the Netherlands each received nearly $5.5 billion in Turkish exports, while Poland accounted for $4.8 billion. Overall, Türkiye recorded export growth in 17 EU member states, whereas shipments to the remaining 10 markets declined.

Combined exports to Germany, Italy, Spain and France reached $41.2 billion over the first nine months of the year, highlighting the importance of these four markets to Türkiye’s trade with Europe.

The automotive industry led exports to the EU, with shipments increasing 4.8% to $22.9 billion. Chemicals and chemical products ranked next, generating $10.2 billion, while ready-to-wear clothing exports reached $7.3 billion.

The automotive sector also recorded the largest absolute increase, adding nearly $1.1 billion in exports to the bloc. Ferrous and non-ferrous metals followed with a rise of $1 billion, while electrical and electronic products registered an increase of $489.3 million, according to the data.

At the provincial level, Istanbul, Kocaeli, Bursa, Ankara and Izmir were Türkiye’s leading contributors to exports to the EU, collectively accounting for $60.9 billion during the January-September period.

Istanbul led with $29 billion in shipments to the bloc. Kocaeli followed with $11.4 billion and Bursa with $9.4 billion, while Ankara recorded $5.6 billion and Izmir contributed $5.4 billion.

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