Türkiye’s exports to the Gulf States rose 29% to $1.69 billion in May

Türkiye saw a sharp increase in its exports to the Gulf countries in May, which recorded a 29% growth rate to US$1.69 billion (TL39.55 billion) compared to the same period last year.

Türkiye’s total exports rose 14.4% in May compared to the corresponding period in 2022, rising to a total of US$21.7 billion, data from the Turkish Exporters Assembly (TIM) showed.

Last month, exports were $817.9 million to Iraq, $360 million to the United Arab Emirates (UAE), $166.5 million to Saudi Arabia, $206.9 million dollars 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 generated the most exports from Turkey to the UAE in May was jewelry at $108.3 million.

In terms of exports, several sectors have emerged as major exporters to various Gulf States. Saudi Arabia received $27.1 million worth of carpet exports. Iran, on the other hand, imported $44 million worth of chemicals and related products. Qatar, meanwhile, saw an influx of $7 million worth of furniture, paper and forest products.

Among the sectors that exported chemicals and products, the ready-made garments industry stood out, which flowed US$5.3 million to Kuwait, US$2.4 million to Bahrain and US$4.1 million to Oman.

On the other hand, the highest exports to Iraq were in the grain, legumes, oilseeds and related products sector, at US$180 million.

In May, Istanbul stood out with the highest exports to the region. Specifically, $208.1 million in exports went to the United Arab Emirates, while $70.4 million went to Saudi Arabia. Qatar received $26.3 million worth of products and Bahrain received $7.6 million. In addition, exports totaled $111.1 million for Iran, $23.4 million for Kuwait, $12.12 million for Oman and $222.2 million for Iraq.

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