Turkey's export to OIC members in 1Q2020 sees growth
BAKU, Azerbaijan, April 4
By Rufiz Hafizoglu - Trend:
Turkey’s export to the member-states of the Organization of Islamic Cooperation (OIC) from January through March 2020 amounted to $11.4 million, which is an increase by 3.5 percent compared to the same period of 2019, the Turkish Ministry of Trade told Trend on May 4.
During the 1st quarter of 2020, the export to the OIC countries has made up 26.7 percent of Turkey’s total export in the same period, the ministry said.
Turkey’s export to the OIC countries dropped by 22.3 percent in March 2020 up to nearly $3.4 million compared to the same month of previous year.
Thus, in March of this year Turkey’s export to the OIC countries 26 percent of the total export in the same month of 2019.
According to the ministry, Turkey’s import from the OIC countries increased by 6.3 percent in 1Q2020 and reached almost $7 million compared to the same period of last year.
The import from the OIC countries amounted to 12.6 percent of the total import of Turkey from January through March 2020.
In March 2020, Turkish imports from OIC countries fell by 17.6 percent compared to March 2019, making up slightly over $1.8 million.
The indicator in March made up 10 percent of Turkey’s total import.
Turkey’s foreign trade turnover in March 2020 exceeded $32.2 billion.
In Mar. 2020, export from Turkey decreased by 17.8 percent compared to Mar. 2019, exceeding $13.4 billion.
Turkey's import increased by 3.1 percent in Mar. 2020 compared to the same month of 2019 and exceeded $18.8 billion.
During 1Q2020, Turkey’s trade turnover amounted to $98.4 billion.
Meanwhile, Turkey's exports decreased by 4 percent compared to the same period in 2019, amounting to $42.7 billion, while imports grew by 10.3 percent compared to the same period in 2019, amounting to $55.6 billion.
The foreign trade turnover of Turkey in 2019 amounted to $374.2 billion.
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