Skip to content Skip to Search
Skip navigation

Turkey’s exports to Saudi surge 600% as ties improve

By Pramod Kumar
Unsplash.com
The carpet sector emerged as a leading industry in Turkish exports to Saudi Arabia

Turkey’s exports to Saudi Arabia surged to nearly $800 million during January-April 2023 amid the ongoing normalisation of diplomatic ties between the two Arab nations.

Istanbul’s exports to Riyadh have grown over 600 percent in the first four months to $780.5 million, Daily Sabah newspaper reported, citing data by the Turkish Exporters Assembly (TIM).

Exports to Saudi Arabia stood at $107.4 million during the same period last year.

Saudi Arabia, accounting for a mere one percent of Turkey’s total exports during the period, was placed 22nd on the export list.

Germany secured the top spot with exports at $6.28 billion, followed by the US ($3.86 billion), Italy ($3.75 billion), the United Kingdom ($3.63 billion), Russia ($3.20 billion), and Iraq ($2.78 billion).

During the period, Turkey reported the highest increase in value terms for exports to Russia ($1.7 billion) and Saudi Arabia ($673.9 million).

They were followed by France ($418.8 million), Ukraine ($398.6 million) and the United Arab Emirates ($229.3 million).

The carpet sector emerged as a leading industry in Turkish exports to Saudi Arabia, totalling $109.4 million.

Other large sectors in terms of export value to Saudi Arabia were cereals, pulses, oilseeds, and related products, which accounted for $81.2 million.

The chemical industry and its products followed with $77.9 million, while ready-made clothing and apparel achieved $66.8 million. 

The electricity and electronics sector made a significant contribution, with exports totalling $56.6 million, the newspaper said.

Latest articles

Petronas LNG CEO Ezran Mahadzir and Adnoc EVP Fatema Al Nuaimi sign the long-term LNG supply agreement

Adnoc Gas strikes LNG supply deal with Petronas

State-backed energy major Abu Dhabi National Oil Company (Adnoc) has signed the second sales and purchase agreement for its Ruwais liquified natural gas (LNG) project at Al Ruwais Industrial City. The 15-year contract was signed with Malaysia’s Petronas to supply one million tonnes per annum (mtpa) of LNG. Deliveries are expected to start in 2028 […]

Dubai and Jeddah account for almost 80 percent of current spending on airport development in the Mena region

Middle East airlines report lowest demand rise

Middle Eastern carriers reported a 2.2 percent year-on-year increase in passenger demand in October, the lowest across all regions, according to the International Air Transport Association (Iata). Capacity increased 2.5 percent, while the load factor fell marginally lower at 80.2 percent year on year, Iata reported. Asia-Pacific airlines reported the highest year-on-year increase in demand […]

Alcohol tax in Dubai was suspended in 2023

Dubai to reintroduce 30% alcohol tax

Dubai will reintroduce the 30 percent sales tax on alcohol in January, according to an email sent by a local alcohol distributor to venues in the city.  The correspondence sent by MMI, which also operates off licences in the city, said: “Please note, Dubai Government have informed us the 30 percent municipality tax on alcoholic […]

EDB food wheat farm sharjah

EDB hails $305m in financing for agriculture businesses

One dirham in 12 lent by Emirates Development Bank in the past three years has gone into financing for agriculture technology and food production businesses, the bank said on Thursday. EDB said the AED1.12 billion ($305 million) of loans represent 8 percent of the AED14.72 billion of financing it has provided since April 2021.  It […]