Türkiye’s exports to Gulf countries up 29% in May to reach $1.69B
Türkiye experienced a significant surge in its exports to Gulf countries in May, witnessing a growth rate of 29% compared to the same period in the previous year and amounting to $1.69 billion (TL 39.55 billion).
Türkiye’s overall exports in May showed an increase of 14.4% compared to the corresponding period in 2022, soaring to a total of $21.7 billion, data from the Turkish Exporters Assembly (TIM) showed.
Last month, exports amounted to $817.9 million to Iraq, $360 million to the United Arab Emirates (UAE), $166.5 million to Saudi Arabia, $206.9 million to Iran, $55.3 million to Qatar, $46 million to Kuwait, $24.6 million to Oman and $13.6 million to Bahrain.
Saudi Arabia was the country with the highest proportional increase in exports.
The sector that realized the most exports from Türkiye to the UAE in May was jewelry with $108.3 million.
In the realm of exports, several sectors have emerged as significant contributors to various countries in the Gulf. Saudi Arabia received $27.1 million worth of carpet exports. Iran, on the other hand, saw the importation of chemicals and related products amounting to $44 million. Qatar, meanwhile, witnessed an influx of furniture, paper, and forestry products valued at $7 million.
Among the sectors that exported chemicals and products, the ready-made clothing and apparel industry stood out, with $5.3 million directed toward Kuwait, $2.4 million toward Bahrain, and $4.1 million toward Oman.
On the other hand, the highest exports to Iraq were realized in the grains, pulses, oilseeds and related products sector with $180 million.
In May, Istanbul stood out with the highest exports to the region. Specifically, $208.1 million of exports was made to the UAE, while $70.4 million were to Saudi Arabia. Qatar received $26.3 million worth of products, and Bahrain received $7.6 million. Additionally, exports amounted to $111.1 million for Iran, $23.4 million for Kuwait, $12.12 million for Oman, and $222.2 million for Iraq.
