Business

Russia ranks first in Turkiye’s export growth

Turkiye maintains its strong export performance despite ongoing geopolitical risks. The country with the highest export volume in July was Russia.

Despite the disruptions in the global supply chain due to the Russia-Ukraine war and the negative impact of the countries’ trade relations with Russia, Turkiye continues to effectively maintain its trade with Russia with its balance strategy and effective foreign policy.

Although there were delays and disruptions in orders at the beginning of the war, trade between Turkiye and Russia continues to increase with the solution-oriented approach of Turkish exporters.

Thus, Turkiye realized the highest increase in exports on a value basis to Russia in July.

According to the information compiled from the data of the Turkish Exporters’ Assembly (TIM), Turkiye’s exports increased by 13.4% in July compared to the same period of the previous year and rose to $18 billion 550 million.

Turkiye’s foreign sales to Russia increased by $236 million 932 thousand in July compared to the same period of the previous year and reached $609 million 68 thousand.

In this period, Russia was followed by Bulgaria, the USA, the Netherlands and the Republic of South Africa in the increase in exports on a quantity basis.

In July, Turkiye’s exports to Bulgaria increased by $218 million 439 thousand and reached $483 million 279 thousand, to the USA $1 billion 119 million with an increase of $213 million 263 thousand. The Netherlands reached $673 million 429 thousand with an increase of $194 million 735 thousand, and South Africa reached $224 million 207 thousand with an increase of $135 million 496 thousand.

Russia thus became the seventh country to which Turkiye exports the most.

The locomotive sector in exports to Russia was chemicals and their products

In Turkiye’s exports to Russia, the chemical substances and products sector made the largest export.

The chemical materials and products industry exported $115 million 256 thousand to Russia in July. Fresh fruits and vegetables with $83 million 224 thousand, machinery and accessories with $58 million, automotive industry with $49 million 532 thousand, textile and raw materials with $43 million 756 thousand followed the chemicals and products.

The sectors with the least demand for Russia were ornamental plants and products with $$212 thousand, other industrial products with $400 thousand, olive and olive oil with $515 thousand, ship yachts and services with $703 thousand, and jewelry with $1 million 241 thousand.

Istanbul came to the fore

Companies from Istanbul made the most exports to Russia with $291 million 535 thousand.

Izmir was followed by Izmir with $46 million 147 thousand, Bursa with $28 million 819 thousand, Kocaeli with $23 million 949 thousand and Ankara with $23 million 236 thousand.

Source: Trthaber / Translated by Irem Yildiz

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