Türkiye’s exports to UAE lead in August, sales to Palestine soar

The United Arab Emirates (UAE) was the market with the highest sales growth for Turkish exports in August, according to official data, with improved diplomatic ties and strategic initiatives reflected in bilateral trade.

According to Turkish Exporters Council (TIM) data, exports to the Gulf country increased by $415 million, or 117.7%, compared to the same period last year, to a total of $767.6 million.

The surge comes amid significant improvements in relations between the two countries, with a positive impact on bilateral trade. Turkey’s total exports rose 2.4% year-on-year to a total of $22.1 billion, marking a record for August sales. The United Arab Emirates is followed by Romania, where data shows exporters saw their sales rise by nearly $139 million to nearly $645 million compared to August 2023

Exports to the United Kingdom and Slovenia increased by $126.3 million and $124 million respectively to $1.1 billion and $224.9 million.

Export to Palestine Rocket
Sales to Palestine rose 1,156% year-on-year, or $117.8 million, to $128 million last month, the data showed.

Exports to Palestine increased as Turkey suspended all bilateral trade with Israel until the Gaza conflict was resolved and aid could enter Gaza freely.

Exports to Palestine rose more than 423% year-on-year between January and August to nearly $404 million, according to TIM data.

The UAE emerged as Turkey’s sixth largest export market in August, following Germany, the US, the UK, Iraq and Italy.

Exports to Germany are about $1.5 billion, followed by exports to the U.S. and the U.K. Sales to those countries were estimated at $1.1 billion each, the data showed.

Iraq and Italy received $927.2 million and $802.5 million, respectively.

The jewelery sector led exports to the UAE, with total sales of $521.9 million. Other important sectors include chemicals and chemical products at $29.1 million, machinery and equipment at $25.9 million, electrical and electronics at $19.8 million and ready-made clothing and apparel at $16.6 million.

Looking ahead, a development road project involving Turkey, Iraq, Qatar and the United Arab Emirates is expected to further boost exports to the region.

The proposed $20 billion development road project is designed to facilitate the movement of goods from the Gulf to Europe through the Grand Fa Port in Basra, southern Iraq. The port is connected to Turkey and subsequently to Europe by an extensive network of railways and highways.

The project is said to be a “short route” connecting the Arabian Gulf to Europe. Once completed, the trade route from the Arabian Gulf to Europe could be shortened to 12 to 15 days, reducing both travel time and transportation costs.