The United Arab Emirates (UAE) was the nation the place Türkiye elevated its exports essentially the most in worth phrases within the first half of the yr, with shipments rising 64.5% to just about $3.3 billion, in keeping with a report Thursday.
Türkiye’s complete exports from January to June rose 4.1% year-over-year to $131.4 billion, Anadolu Agency (AA) reported, citing information from the Turkish Exporters Assembly (TIM).
In June alone, exports elevated 8% from a yr earlier to $20.5 billion.
The automotive sector led all industries in export worth through the first half, with $19.99 billion in gross sales. It was adopted by chemical substances and chemical merchandise at $15.76 billion and the electrical-electronics sector at $8.33 billion.
Exports to the UAE elevated by $1.28 billion in comparison with the identical interval final yr, rising from $1.98 billion to $3.26 billion – a 64.5% leap. That marked the most important enhance in worth amongst all export markets.
Germany adopted with a rise of $804.8 million, the U.Okay. with $685 million, Slovenia with $643.6 million, and Italy with $479 million.
In complete, exports through the first half amounted to $9.72 billion to Germany, $6.56 billion to the U.Okay., $6.4 billion to Italy and $1.74 billion to Slovenia.
UAE tenth largest export market
Türkiye’s high 10 export markets within the first half had been Germany, the U.Okay., Italy, the U.S., Spain, France, Iraq, Romania, the Netherlands and the UAE.
The jewellery sector was the main Turkish exporter to the UAE, with $1.81 billion in shipments through the six-month interval. Other high sectors included chemical substances and chemical merchandise ($250 million), electrical and electronics ($135.6 million), metal ($94.6 million), grains and pulses ($87.5 million), and ready-to-wear and attire ($66.7 million).
Istanbul-based firms accounted for the most important share of exports to the UAE, totaling $1.63 billion. They had been adopted by firms in Çorum with $1.06 billion, Izmir with $72.2 million and Ankara with $69.7 million.
Mehmet Ali Akarca, head of the Turkey-UAE Business Council on the Foreign Economic Relations Board (DEIK), stated the figures replicate the sturdy degree of financial cooperation between the 2 international locations.
“The growth is not only the result of commercial potential but also of strengthening diplomatic relations and mutual trust,” he advised AA.
Rise supported by CEPA
Akarca famous that the rise in exports was supported by the Comprehensive Economic Partnership Agreement (CEPA), which got here into impact in 2023.
“With CEPA, the reduction in customs tariffs and elimination of technical barriers have simplified trade procedures,” he stated.
He added that the UAE’s strategic geographic location, sturdy infrastructure and business-friendly surroundings make it a helpful commerce hub.
“Despite having a population of just 10 million, the UAE plays a key role in global trade. Turkish firms are increasingly establishing offices there,” he stated.
Cities like Dubai and Abu Dhabi, Akarca famous, function gateways to Asian, European and African markets, providing main logistical benefits with their trendy ports, air cargo hubs and free commerce zones.
He additionally stated that the UAE’s function as a re-export middle helps enhance demand for Turkish items within the Middle East, Africa and South Asia.
Looking forward, Akarca stated sectors reminiscent of digital applied sciences, well being care, meals, building and protection are anticipated to achieve significance in Turkish exports to the UAE.
“During our sectoral delegation visit for digital technologies last year, we saw strong interest in artificial intelligence, cybersecurity, fintech and software,” he stated. “There’s also growing demand for food security and health care services, creating long-term partnership opportunities.”
He added: “The defense sector is also on the rise due to evolving geopolitical dynamics and technological transformation.”
