Türkiye’s 9-month exports to Japan soar to record $442 million

The January-September exports from Türkiye to Japan have reached their highest-ever level, according to Turkish Exporters’ Assembly (TIM) data.

With an increase of 0.6% compared to the same period last year, the exports totaled $442.6 million (TL 12 billion), the data said, with legumes and cereals taking the lead when looking at the most exported products.

Legumes, oilseeds and their products achieved exports worth $74.4 million, according to the TIM data.

The mining products sector followed them with $51.7 million, the automotive industry with $38 million, chemicals and chemical products with $37.9 million, and aquatic products and animal products with $37.2 million.

The “Far Countries Strategy,” which focused on new products and market diversification and was implemented in 2022, has taken Türkiye’s export performance to a dynamic level by moving beyond the traditional product-market structure.

Agreements and commercial collaborations between Türkiye and Japan have also underscored the progress in bilateral trade.

A joint declaration was signed to initiate the “Türkiye-Japan Energy Forum” last month to enhance energy cooperation between the two countries.

Additionally, a “Joint Declaration on Trade and Investment Development” was also signed between the two nations.

The sector that saw the highest increase in exports to Japan during the January to September period was the olive and olive oil sector, with an increase of $10 million.

This was followed by fruit and vegetable products with $7.7 million, machinery and parts with $7.6 million, cereals, legumes, oilseeds and their products with $7.1 million, and the jewelry sector with $5.5 million.

In total, the olive and olive oil sector exported $24 million, fruit and vegetable products $32.3 million, machinery and parts $21.1 million and the jewelry sector $10.2 million to Japan in the first nine months of 2023.

According to the Trade Ministry data, Türkiye’s outbound shipments from January through September fell 0.3% to $187.46 billion, while the overall monthly exports in September rose to $22.67 billion, marking the third consecutive monthly record.