Tuesday, 02 January 2024 12:17 GMT

Türkiye’s Exports to Neighboring Markets Continue to Grow


Date:

(MENAFN) Türkiye recorded $23.4 billion in exports to its neighboring countries during the first 10 months of the year, reflecting a 2.3% increase compared with the same period last year, according to Trade Ministry figures.

The growth was supported by stronger shipments of chemical products and agricultural goods, while several neighboring markets registered notable increases in imports from Türkiye.

The countries covered by the figures are Azerbaijan, Bulgaria, Georgia, Iraq, Iran, Syria and Greece.

Iraq remained Türkiye’s largest export destination among these neighbors, receiving Turkish goods worth $7.5 billion between January and October. Bulgaria ranked second with $4.4 billion, followed by Greece at $2.8 billion and Georgia at $2.4 billion.

Georgia recorded the strongest annual growth in imports from Türkiye, with exports rising 17.8%. Syria followed with an increase of 16.5%, while shipments to Bulgaria grew 14.8%.

By sector, chemicals and chemical products accounted for the largest share of exports to the seven countries, generating $4.4 billion in revenue over the 10-month period.

Agricultural goods, including grains, pulses, oilseeds and related products, ranked next, with exports totaling nearly $2.4 billion.

The manufacturing category, covering furniture, paper and forest products, recorded approximately $1.8 billion in exports during the same period.

Ornamental plants and related products represented the smallest export category, with shipments valued at $25.3 million.

The ministry's dataset did not include trade figures for Nakhchivan or Armenia, as direct land trade data for those destinations was unavailable.

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