Creating new perspectives since 2009

Turkey's exports to OPEC countries rise to 22.8%

August 14, 2014 at 2:20 pm

Turkey’s exports to the states of the Organisation of the Petroleum Exporting Countries (OPEC) in the first half of this year amounted to $14.6 billion, while its imports from OPEC amounted to $8.8 billion, whereas the foreign trade surplus with these countries reached $5.8 billion, an increase of 22.8 per cent compared to the same period last year.

Value of Turkey’s foreign trade surpluses with:

– Iran: £6.5 billion

– Iraq: $ 5.7 billion

– Libya: $1.21 billion

– United Arab Emirates: $ 1.1 billion.

According to the date of the Turkish Statistical Institute, the OPEC countries’ share of Turkey’s exports for the period mentioned is 18.2 per cent, where jewellery, iron and steel products, machinery, electronic products, plastic and furniture products constituted 50 per cent of those exports. The data also showed that the annual exports to OPEC countries increased from$3.9 billion to $30 billion, during the last 10 years.

Iran topped the list of countries exporting to Turkey with a value of $5 billion.