Turkey’s trade with Middle East surpasses $40 billion

Turkey’s trade with Middle East surpasses $40 billion

DUBAI
Turkey’s trade with Middle East surpasses $40 billion

The figures provided by e-commerce platform Turkeyol indicate that the volume of trade between the Middle Eastern countries and Turkey grew by 25 percent in the last decade to stand at $42.9 billion.

The largest growth of trade volume was recorded with Iraq with 141 percent, followed by Yemen with 105 percent, Jordan with 97 percent and Saudi Arabia with 59 percent.

75 percent of the trade between Turkey and the Middle Eastern countries was with Iraq, United Arab Emirates, Saudi Arabia and Qatar.

The volume of trade between the Middle Eastern countries and Turkey is expected to reach $50 billion by the end of 2019.

Noting that the volume of trade between Turkey and the Middle Eastern countries would increase through e-export, Yusuf Yenitürkoğulları, the founder of Turkeyol, said: “E-export is of critical importance for the region. At Turkeyol, we have set up an online platform for wholesale purchases and sales and eliminated all barriers that might be faced with in the course of commercial activities.”

The volume of exports from the Middle Eastern countries to Turkey increased by 40 percent in the last decade to $17.24 billion.

The products, which are exported to Turkey the most, include plastic products, mineral fuel, oil, gems and jewelry.

Turkey, Trade, Middle East