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Russia's import of steel from Turkey surges in August 2020

Business Materials 15 September 2020 10:05
Russia's import of steel from Turkey surges in August 2020

BAKU, Azerbaijan, Sept. 15

By Rufiz Hafizoglu - Trend:

The value of steel export from Turkey to Russia grew by 30.37 percent in the past eight months of 2020, compared to the same period of 2019, having exceeded $60.2 million, the Turkish Trade Ministry told Trend.

In August 2020, Turkey exported steel worth over $10.5 million to Russia, which is 76.55 percent more than in the same month of last year.

Steel exports from Turkey to world markets decreased by 16.1 percent from January through August 2020, compared to the same period of 2019, amounting to $7.8 billion.

The ministry said that Turkey’s steel exports made up 7.7 percent of the country's total exports over the specifying period.

In August 2020, Turkey exported the steel to international markets in the amount of $878.4 million, which is 13.5 percent less compared to August 2019, the ministry noted.

At the same time, Turkey’s steel exports in August 2020 accounted for 7 percent of the country's overall exports.

Over the past 12 months (from August 2019 through August 2020), Turkey exported the steel worth over $12.3 billion to foreign markets.

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