Turkey’s exports to Israel hit all-time Q1 high as ties normalize
A general view of LimakPort Iskenderun International Port in southern Hatay province, Turkey, Aug. 12, 2020. (AA Photo)


Turkey’s exports to Israel jumped by more than a third to leave behind the best first quarter yet, as the recent rapprochement has seen the two countries working to mend their long-strained ties.

Propelled by the steel industry, sales to Israel jumped 37.2% year-over-year from January through March to $1.8 billion, data compiled from the Turkish Exporters’ Assembly (TIM) showed.

Of that, the steel sector was responsible for around $470.8 million, according to the data.

March sales to Israel also marked the all-time monthly high, as exports hit $711.12 million, a 44.3% year-over-year increase.

Israel was the ninth-largest recipient of Turkish exports from January through March this year.

The steel industry was followed by chemicals and products with $200 million and ready-made clothing and apparel with $155.9 million. Among others were cement glass ceramics and soil products with $133.7 million and the automotive industry with $132.3 million.

Steel was the leader in March as well with $156.9 million, followed by read-made with $80.24 million, chemicals and chemical products with $78.24 million and automotive with $67.17 million, the data showed.

Turkey and Israel proclaimed a new era in relations when Israeli President Isaac Herzog made a landmark visit to Ankara earlier in March after a yearslong rift.

Both sides dubbed the visit historic and landmark and President Recep Tayyip Erdoğan said it was a "turning point" in Turkish-Israeli relations.

The two countries are looking to put a decade of diplomatic impasses, usually over Israeli-Palestinian issues, behind them.

Energy partnership could be key, especially after the Russian invasion of Ukraine made Europe more determined to find alternatives to its energy supplies.

Through the years of tensions, Turkey and Israel have maintained trade links. Their goods exchange has been surging over the past five years, with the turnover hitting a record $8.4 billion last year, according to official data, up from $6.2 billion in 2020.

Exports to Israel leaped more than 35% year-over-year to $6.4 billion last year, an all-time high, according to the Turkish Statistical Institute (TurkStat). Imports jumped nearly 37% to $2.1 billion.

Israel is among the countries Turkey registers a trade surplus with and has been its ninth biggest export market.

Erdoğan said the sides hoped trade would reach $10 billion this year.