Business

Turkey’s exports to Libya approached $2.5 billion

Turkey’s exports to Libya increased by 64.9% in 2021 compared to the previous year and reached $2 billion 443 million. This figure was recorded as the second highest export figure to Libya. DEIK Turkey-Libya Business Council President Murtaza Karanfil stated that there is an ancient friendship between Turkey and Libya for more than 500 years and underlined that this friendship should be reflected more on commercial relations.


According to the research conducted by the DEIK Turkey-Libya Business Council from the Turkish Exporters Assembly (TIM) figures, Libya, where exports amounted to $2.44 billion, had a share of 1.06% from Turkey’s total exports with this figure.

Exports in December, on the other hand, reached $238.9 million with an increase of 75% compared to the same period of the previous year.

Turkey realized the second highest annual export to Libya with $2.44 billion last year. Previously, the highest figure was seen in 2013 with $2.7 billion.

MOSTLY CHEMICALS, FURNITURE AND JEWELRY WERE EXPORTED TO LIBYA

At the beginning of the sectors that exported the most products to Libya in 2021, chemicals and products came with $332 million. This sector increased its exports by 31.9% on an annual basis.

Furniture, paper and forestry products with $298.1 million, jewelry with $281.8 million, grains, pulses, oilseeds and products with $251 million, and ready-to-wear and apparel with $246.5 million followed the chemicals.

Exports to Libya are $170.8 million in electricity and electronics, $146.3 million in steel, $127.5 million in ferrous and non-ferrous metals, $96.9 million in carpets, machinery and components, $86.6 million, cement $55.6 million, $54.3 million in the automotive industry.

JEWELRY EXPORTS INCREASED BY 435%

DEIK Turkey-Libya Business Council President Murtaza Karanfil, in his evaluation of the data, said that there was a rapid acceleration in bilateral relations after the maritime jurisdiction areas agreement signed between the two countries.

DEIK Turkey-Libya Business Council President Murtaza Karanfil, in his evaluation of the data, said that there was a rapid acceleration in bilateral relations after the maritime jurisdiction areas agreement signed between the two countries. Libya is a country with a population of 300 million. Our exports to Libya, which we describe as the gateway to Africa, should increase rapidly, and our foreign trade volume with this country should be at least $10 billion.”

Giving the information that last year, the most exports were made in the chemical group to Libya, Karanfil emphasized that the sector with the most remarkable increase was jewelry.

Karanfil informed that jewelry exports to Libya amounted to $281.8 million in 2021, an increase of 435.3% compared to the previous year.

WE MUST REFLECT OUR FRIENDSHIP MORE ON THE INTER-COUNTRY ECONOMY

Reminding that he had previously called for the economy NGOs of countries to cooperate more, Karanfil made the following assessments:

“As Turkish businesspeople, we contribute significantly to meeting the basic needs of this country and increasing the welfare of the people with the trade we carry out with Libya. We also fulfill our humanitarian duty to Libya with the trade we carry out. We have made a significant contribution to meeting Libya’s needs, but current figures need to go further. Our NGOs should cooperate more and act more in this field. Libya is very important and strategic because it has easy access to all countries of Africa and is located at a geographical point close to Europe and our country.”

Source: Sabah / Translated by Irem Yildiz

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