Turkey exported more than $10B to the Balkans in the first 10 months

According to the data of Turkey Exporters Assembly (TIM), $10 billion 213.6 million of exports were made to the Balkan countries including Albania, Bosnia-Herzegovina, Bulgaria, Croatia, Montenegro, Kosovo, North Macedonia, Romania, Serbia, Slovenia and Greece in the first 10 months of 2020.

The export figure to the Balkans was $11 billion 40.5 million in the same period of 2019; yet it is revealed that exports to the Balkans this year decreased by 7.5 percent due to coronavirus epidemic.

The highest export to the Balkans in the January-October period was to Romania with $3 billion 47.6 million. Romania was followed by Bulgaria with $1 billion 991.2 million, Greece with $1 billion 391.2 million and Slovenia with $1 billion 261.1 million.

Turkey exported $797.2 million to Serbia, $371.6 million to Albania, $350.7 million to Bosnia and Herzegovina, $320.2 million to North Macedonia, $318.1 million to Croatia , $280 million to Kosovo and $84.8 million to Montenegro in the 10-month period.

Exports to Serbia and Kosovo increased despite the pandemic

Despite all the negative effects of Covid-19, an increase in exports to Serbia and Kosovo was recorded in the January-October period. In this period, the highest increase in exports was recorded in Serbia with 5.6 percent compared to the same period of 2019; exports to Serbia increased from $ 754.6 million to $ 797.2 million. Exports to Kosovo also increased by 2.6 percent compared to 2019, from $ 272.8 million to $ 280 million.

On the other hand, due to the Covid-19 measures, the decreases in the foreign trade were also observed in the Balkan countries. There were 19.3 percent export decrease in Greece, 18.9 percent in Montenegro, 11.7 percent in Slovenia, 8.5 percent in Croatia, 7.4 percent in Albania, 5.6 percent in Bosnia, 5.3 percent in Romania, 4.9 percent in Bulgaria and 0.7 percent in North Macedonia in the 10-month period compared to the same period of 2019.

43.9 percent of the total exports to the Balkans were made from Istanbul

When we look at the distribution of exports to the Balkan countries in 10 months of the year on the basis of provinces, Istanbul exported $4 billion 484 million to this geography. With this amount, Istanbul alone covered the 43.9 percent of the $ 10 billion 213.6 million exports made to Balkan countries; yet Istanbul exported more than $ 5 billion to the Balkan geography in the same period of 2019.

Automotive industry made the most exports to the Balkan countries

The automotive industry took the lead in terms of export volume among the sectors that exported to the Balkans in the January-October period. Automotive industry made $2 billion 72.8 million of exports to the Balkan countries during this period.

Automotive industry was followed by chemicals with $1 billion 487.3 million of exports, steel with $1 billion 61.9 million, iron and non-ferrous metals with $754 million, and textile with $747.4 million. The least exporting sector to the Balkan countries in the 10-month period was ornamental plants with $3 million 727.8 thousand of foreign sale.

According to TIM data, the amount and rate of increase in exports to Balkan countries in the January-September period of 2019 and 2020 are as follows:

Jan-Oct 2019 value and percentageJan-Oct 2020 value and percentageComparison
Albania$401.138 $371.554          %-7,4
Bosnia$371.543         $350.691       %-5,6
Bulgaria$2.094.524            $1.991.174  %-4,9
Croatia$347.742                $318.106  %-8,5
Montenegro$104.544$84.819   %-18,9
Kosovo$272.833                  $280.043   %2,6
Northern Macedonia$322.598               $320.241   %-0,7
Romania$3.218.685             $3.047.563 %-5,3
Serbia$754.603                $797.146    %5,6
Slovenia$1.428.899          $1.261.087     %-11,7
Greece$1.723.354              $1.391.211  %-19,3
Total$11.040.467            $10.213.638%-7,5

source: AA / translated by Melisa Karayusufoglu

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