Turkey’s exports to the United Arab Emirates (UAE) in August surpassed exports to its number one economic partner, Germany, for the first time in history, thanks to strengthening economic relations.
Exports to the UAE last month reached nearly $1.15 billion, according to the latest figures released by the Turkish Exporters’ Assembly (TIM) on Monday.Germany ranked second among the top 20 nations Turkey exports to, with $988.6 million, followed Britain with imports worth $576.06 million. Russia ranked fourth with $530.56 million, while France ranked fifth with nearly $434.17 million.
Turkey’s exports to European nations, its strongest trade partner, stalled due to a painful economic slow down, while exports to the Gulf increased thanks to strengthening economic relations, TDN reported citing the Anatolian Agency on Tuesday.
Among the leading countries that Turkey exported to in August, Italy recorded $394.62 million, the U.S. reached $373.15 million, while Saudi Arabia ranked eight with $357.67 million, and also in the top ten was Romania with $341.59 million, while Iraq imported $351.82 million of Turkish goods during the past month.
Turkey’s exports in August increased 27.59 percent to more than $10.9 billion, according to TIM’s figures. The industry sector held an 87.41 percent share of the country’s August exports, while agriculture and mining held a 9.41 percent and 3.18 percent share respectively.
Source : Hurriyet