Türkiye’s exports to Spain climb to record high of nearly $9.3B

With a total export value of approximately $9.26 billion (TL 278.73 billion), Türkiye achieved its highest-ever export to Spain of all time last year, according to official data.

Standing out with its market diversity, geopolitical position, strong infrastructure and qualified workforce, Türkiye continues to showcase record-breaking results in outbound shipments both within its region and globally.

Preserving its role as a strategic commercial partner for Europe, Türkiye attracts the attention of countries interested in investing due to its sustainable economic growth.

Within this context, Türkiye is increasing its exports to Spain, one of the leading countries in the European Union while both nations, taking the initiative in bilateral trade, are evaluating opportunities in their influential sectors.

Accordingly, based on the data compiled by Anadolu Agency (AA) from the Turkish Exporters Assembly (TIM) on Monday, Spain became the eighth largest receiver of Turkish goods in 2023, with imports amounting to $9.26 billion.

This country’s share in Türkiye’s total overseas shipments thus stood at 3.6%, according to the data.

Türkiye’s total exports in 2023 hit a record high of $255.8 billion, ticking up 0.6% from the previous year, and surpassing the medium-term program target of $255 billion.

From the sectoral point of view, spearheading the figure in overseas shipments to Span stands automotive industry that realized exports worth nearly $2.44 billion last year, the data showed.

Following the automotive industry, the ready-to-wear and apparel sector came in second with $2.25 billion and the chemical substance and products sector was next with $1.32 billion.

The shipments by the electrical and electronic sector contributed $620.7 million while the steel sector with nearly $437.8 million closed the top five sectors that led the exports to Spain, respectively.

The sectors with the least exports to Spain were ornamental plants and products with $395,000, tobacco with $2.74 million, ship, yacht and services with $2.87 million, fresh fruits and vegetables with $9.05 million, and the carpet sector with $9.21 million.

In exports to the EU country, the automotive industry also led the way in the increase in exports based on value. Last year, the sector’s export increase to Spain was recorded at $623.34 million when compared to 2022.

In export growth, the automotive sector was followed by the olive and olive oil sector with $173.7 million, the chemical substances and products sector with $98.7 million, the electrical and electronic sector with $60.25 million, and cereals, pulses, oilseeds and products with $38.83 million.

Looking at the provinces, the highest exports to Spain, amounting to $3.91 billion, were realized from the country’s business hub, Istanbul.