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

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.