Türkiye’s exports to the United Arab Emirates (UAE) have surged to $2.5 billion (TL 67.5 billion) within the first seven months of this year, according to official data.
The shipments increased by 30.9% compared to the January-July period of 2022, the data compiled by Anadolu Agency (AA) from the Turkish Exporters Assembly (TIM) showed Tuesday.
Accordingly, the UAE was recorded as the 13th country to which Türkiye exported the most in the seven months of the year.
Türkiye’s highest exports in this period were to Germany with $10.9 billion, followed by the U.S. with $6.9 billion, Italy with $6.6 billion, the United Kingdom with $6.4 billion and France with $5.7 billion.
The UAE was also the 5th country where Türkiye increased its exports the most.
Türkiye’s exports to the UAE increased by $580.2 million in this period.
From a sectoral point of view, the jewelry sector recorded the most exports to the UAE with exports worth $971.2 million to the Gulf country in the seven months of the year.
The jewelry sector was followed by chemicals and products with $156.9 million; electricity and electronics with $123.6 million; cereals, pulses and oilseed products with $107.5 million; and aquaculture and animal products with $100.6 million.
The jewelry sector has spearheaded a surge in export growth on a sectoral basis. Türkiye’s jewelry exports to the UAE have experienced a substantial increase of $420.9 million over the course of seven months this year, compared to the corresponding period in the previous year.
Following the jewelry industry in terms of export growth to the UAE are the electrical and electronics sector with an increase of $16.1 million, machinery and accessories with $12.9 million, the automotive industry with $10.2 million and the air conditioning industry with $6.6 million.
Exports are primarily driven by key cities: Istanbul contributed $1.4 billion, central Çorum province with $384.6 million, western Izmir with $97.9 million, southeastern Gaziantep with $76.5 million and northwestern Bursa with $70.0 million to the UAE’s import scene.
The bilateral ties between Türkiye and the UAE are rapidly flourishing, marked by recent robust engagements in commerce and economics over the past 24 months.
In the wake of the global challenges posed by the COVID-19 pandemic, the concerted diplomatic efforts between these nations aimed at fortifying ties have yielded particularly favorable outcomes in the realm of trade.
A pivotal moment in this trajectory was President Recep Tayyip Erdoğan’s recent visit to the UAE, resulting in a $50.7 billion agreement being inked as a testament to the strength of this partnership.
Within the scope of the agreement, it was decided to deepen the existing cooperation with the UAE in areas such as energy, transport, infrastructure, logistics, e-commerce, finance, health, food, tourism, real estate, construction, defense industry, artificial intelligence and advanced technologies.