The United Arab Emirates (UAE) emerged as a market where Türkiye achieved the highest increase in exports throughout 2023, according to official data, reaffirming momentum in the thaw after years of tense relations.
Türkiye and the UAE intensified diplomatic efforts to rebuild links and trade and sought to ramp up cooperation in various industries, particularly in the aftermath of the coronavirus pandemic.
The rapprochement was marked by intensified bilateral visits, crowned with President Recep Tayyip Erdoğan's trip to Abu Dhabi last July as part of his Gulf tour, including stops in Saudi Arabia and Qatar.
The tour came after Erdoğan secured reelection in late May and builds on Ankara's diplomatic efforts since 2021 to normalize strained ties with Saudi Arabia and the UAE.
The Abu Dhabi visit saw the signing of 13 agreements covering investments worth $50.7 billion (TL 1.53 trillion), encompassing deepened collaboration in energy, transportation, infrastructure, logistics, e-commerce, finance, health care, food, tourism, real estate, construction, defense industry, artificial intelligence and advanced technologies.
Türkiye's exports to the UAE rose by almost $2.7 billion in 2023, according to the data compiled by Anadolu Agency (AA) from the Turkish Exporters Assembly (TIM). The shipments rose to nearly $5.92 billion from $3.65 billion in 2022.
The momentum stems mainly from the comprehensive economic cooperation agreement that entered into force last September, providing an extra boost expected to help the bilateral trade eventually reach $25 billion.
Russia followed as the second market that saw the biggest increase in exports, as shipments rose by around $1.78 billion to $9.42 billion from $7.65 billion in 2022, the data showed.
Commercial links between Türkiye and Russia maintained momentum despite Moscow's invasion of Ukraine, where Ankara has positioned itself as an intermediary and was a key player in brokering the landmark initiative that sought to ensure safe shipments of Ukrainian grain through the Black Sea. Russia abandoned the initiative last July.
Saudi Arabia ranked third, as Türkiye's exports to the kingdom jumped by $1.33 billion to $2.27 billion in 2023, up from $949 million a year earlier, building on the two countries' efforts to normalize relations strained over the recent years.
The rebound in trade with Saudi Arabia follows a long, steep fall in shipments driven mainly by informal embargoes on Turkish goods after ties were ruptured following the murder of Saudi journalist Jamal Khashoggi in 2018 at the kingdom's Istanbul consulate.
In a sign of mending ties, Erdoğan visited Saudi Arabia in April 2022, and Saudi Crown Prince Mohammed bin Salman (MBS) traveled to Türkiye in June of the same year.
Among other markets, Türkiye's exports to France rose by $889 million to $9.74 billion, while shipments to Algeria surged $606 million to $2.52 billion, the TIM data showed.
Last year marked a new all-time high as Türkiye's outbound shipments reached $255.8 billion, despite global challenges, the crises in its near geography and devastating earthquakes that struck the country's southeastern region.
The figure marked the third straight annual peak and surpassed the target set in the government's medium-term program (MTP), which was unveiled in early September.
The figure is up 0.6% from $254 billion in 2022. Sales totaled $225.4 billion in 2021 after they were hit by the coronavirus pandemic and dropped to as low as $169.5 billion in 2020.
The MTP export estimates were $255 billion for 2023 and $267 billion for 2024. At $361.8 billion, imports in 2023 also came below the program's estimate of $367 billion.
Germany topped the list among nations, receiving $18.5 billion of Turkish goods last year. It was followed by the U.S. at $12.2 billion, the United Kingdom at $11.4 billion, Italy at $11.2 billion and Iraq at $9.8 billion.