Turkey's Exports Reach $61.6 Billion in First Quarter

Turkey's First Quarter Exports Reach USD 61.6 Billion According to data compiled from Turkey Exporters Assembly (TİM), Turkey's exports rose 2.5 percent in the first quarter to USD 61.6 billion. This figure marks the highest January-March export period on record. Turkey's first quarter exports by country reached USD 54.3 billion, with the largest foreign sales of USD 4.9 billion to Germany and USD 2.97 billion to the United States. Exports to countries totaled USD 54 billion 317 million. In the first quarter, exports to Germany reached USD 4 billion 877 million, the highest figure. Sales to Germany increased 0.4 percent compared to January-March 2022. Germany was followed by the United States with USD 2.97 billion, Italy with USD 2.9 billion, the United Kingdom with USD 2.76 billion, France and Russia with USD 2.48 billion, and Spain with USD 2.43 billion. During the period, exports to Iraq reached USD 2.05 billion, to the Netherlands USD 1.67 billion, and to Israel USD 1.46 billion. Of the top 10 countries by export volume, 5 were located in the EU.

13 countries exceeded USD 1 billion

In January-March 2023, exports to 13 countries surpassed USD 1 billion. Countries outside the top 10 included Poland, Romania, and the United Arab Emirates. Imports from Turkey by Bulgaria and Belgium also approached the USD 1 billion threshold. During the period, the number of countries receiving exports of USD 100 million and above reached 76.

Highest growth in Saudi Arabia

Among the 76 countries receiving exports of USD 100 million and above in the first quarter, the highest growth was recorded in Saudi Arabia. Exports to Saudi Arabia during the period rose 755.1 percent to USD 611.8 million. Saudi Arabia was followed by Mali with 540.9 percent (USD 120.3 million) and the Russian Federation with 133.4 percent (USD 2.48 billion). Growth rates were 124.1 percent in Malta, 102.6 percent in Kazakhstan, 94.7 percent in Switzerland, 76.8 percent in Belarus, 49 percent in Ukraine, and 42.2 percent in Kyrgyzstan. Of the 76 countries receiving exports of USD 100 million and above in the first quarter, 23 experienced double-digit growth, while countries such as Japan, Mexico, Hong Kong, and Djibouti were among other markets showing growth. According to TİM data, the top 10 countries by export volume in the first quarter of last year and this year are as follows:   Source