The volume of Turkish exports to Britain exceeds the $85 billion mark

After the signing of the free trade agreement between the two countries, the volume of Turkish exports to the United Kingdom increased by almost 50%

The volume of Turkish exports to Britain exceeds the $85 billion mark
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2021-06-14 Last update 2022-01-02

The volume of Turkish exports to Britain exceeds the $85 billion mark

After the signing of the Free Trade Agreement between Turkey and the United Kingdom last December, Turkey's exports to Britain increased by 50%, and the volume of Turkish exports during the first five months of this world exceeded 85 billion dollars.

Turkish exports to Britain are witnessing a significant increase after the free trade agreement between the two countries

According to data issued by the Turkey Export Council, Turkish exports during the first five months of this world amounted to 85 billion and 219 million and 653 thousand dollars, an increase of 38.3% compared to exports for the same period last year 2020.

Turkey's exports to the United Kingdom during the mentioned period witnessed great distinction, manifested by the great value they achieved, which during the first five months of this year amounted to 4 billion 796 million and 420 thousand dollars.

With this recorded value, Turkish exports recorded an increase of 45.2%, compared to exports during the same period last year, and 6.2% of Turkey's general exports to all parts of the world, during the first five months.

There is no doubt that the free trade agreement between Turkey and Britain, which was signed late last year, played a key role in this great development in the movement of Turkish exports to the United Kingdom.

The rate of increase in these exports reached 50%, since the date of signing the agreement in December of the last year 2020.

turkish exports

Cars and electronic gadgets are among the most exported goods

In the details of the figures of Turkish exports to the United Kingdom, the exports of car factories ranked first, among the materials and goods exported from Turkey to the United Kingdom during the first five months, with the value of these exports amounting to one billion and 93 million and 903 thousand dollars.

Exports of electronic and electrical appliances came in second place, with a value of 803 million and 789 thousand dollars, and ready-made garments exports came in third place, with a value of 731 million and 534 thousand dollars.

According to these figures, Istanbul accounted for the largest share of 42.12% of Turkey's exports to the United Kingdom, as the value of Istanbul's exports to the United Kingdom amounted to two billion and 20 million and 522 thousand dollars during the first five months of this year, achieving an increase of 27.8% compared to its exports during the same period last year 2020.

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Fifth-month exports to the UK made record progress

According to statistics related to Turkey's exports to the United Kingdom, during May of this year, the value of Turkey's exports to the United Kingdom increased from 554 million and 465 thousand dollars, during May of the last year 2020, to one billion and 86 million and 101 thousand dollars, during May of this year, achieving a record increase of 104%.

With this great progress that has more than doubled, Turkey’s exports to the United Kingdom ranked first, among its exports to the rest of the world, in terms of the annual increase in the value of May exports, followed by exports to the United States of America, which amounted to billions of dollars and 979 thousand dollars.

While exports to Germany came in third place, which amounted to one billion and 289 million and 336 thousand dollars, which ranked first in terms of the value of exports for May 2021.

The first five ranks in terms of the increase in the value of exports during May were as follows:

Number

Country

The value of Turkish exports during May 2021

 

Increase in value over exports during

May 2020

 

1

The United Kingdom

One billion and 86 million and 101 thousand dollars

531 million and 536 thousand dollars

2

The United States of America

One billion and 979 thousand dollars

504 million and 774 thousand dollars

3

Germany

One billion and 289 million and 336 thousand dollars

442 million and 93 thousand dollars

4

Spain

680 million and 352 thousand dollars

429 million and 329 thousand dollars

5

Italy

761 million and 512 thousand dollars

388 million and 259 thousand dollars

Fifth-month exports to the UK: the jewelry sector in the lead

In the classification of commercial sectors in Turkey, which achieved the highest exports to the United Kingdom, during May 2021, the jewelry sector ranked first, with exports amounting to 229 million and 9 thousand dollars.

The electrical and electronic appliances sector came second, with exports worth 166 million and 591 thousand dollars, and the ready-made garments sector came in third place, with exports amounting to 154 million and 382 thousand dollars.

We will show you the exports of the most prominent commercial sectors in Turkey's foreign trade with the United Kingdom through the following table:

Number

Commercial sector

The value of the sector's exports to the United Kingdom during May 2021

 

1

Jewelry

229 million and 9 thousand dollars

2

Electrical and electronic tools

166 million and 591 thousand dollars

3

Ready-made clothes

154 million and 382 thousand dollars

4

Auto industry

116 million and 526 thousand dollars

5

Steel

74 million and 807 thousand dollars

As for the sectors whose exports are less than one million dollars, we will present them as follows:

Number

Commercial sector

The value of the sector's exports to the United Kingdom during May 2021

 

1

Decoration plants

$928,000

2

Other industrial products

$901,000

3

Olives and olive oil

$471,000

4

Ships and yachts

$177,000

 

The following is a table showing the Turkish states, which were the most prominent sources of Turkish exports to the United Kingdom, during May 2021:

 

Number

Province

The value of the state's exports to the United Kingdom during May 2021

 

1

Istanbul

593 million and 314 thousand dollars

2

Izmir

71 million and 709 thousand dollars

3

Manisa

71 million and 362 thousand dollars

4

Denizli

64 million and 504 thousand dollars

5

Bursa

57 million and 424 thousand dollars

The United Kingdom is attracted by the strength of the production sector in Turkey like many countries in the world

Commenting on the export figures, a press statement made by Mr. Emre Oz, Board Member of the Turkish-British Chamber of Commerce, stated:

"The objective of the STA agreement signed between Turkey and the United Kingdom is to sustain mutual trade between the two countries, and to spare companies engaged in trade between the two countries stagnation and losses."

Mr. Oz continued his statement by saying: "This agreement has constituted a great incentive for companies working to increase the volume of trade exchanges between the two countries, and will help build a prosperous commercial future based on solid foundations."

On the other hand, Mr. Oz said:

"The production sector in Turkey, which proved to be particularly strong during the period of the pandemic, was one of the most important factors in the demand of the United Kingdom and other countries of the world to expand trade exchange with Turkey, as the United Kingdom signed its free trade agreement with Turkey immediately after signing its first agreement with the United States.

 

Edited by Imtilak Real Estate ©

Reference: Anadol

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