Turkey's export to OIC member states shrinks

Turkey's export to OIC member states shrinks

BAKU, Azerbaijan, June 6

By Rufiz Hafizoglu - Trend:

Turkey’s export to the member states of the Organization of Islamic Cooperation (OIC) from January through April 2020 exceeded $14.08 billion, which is a decrease by 12.3 percent compared to the same period of 2019, the Turkish Ministry of Trade told Trend.

During the reporting period, the export to the OIC member states made up 27.3 percent of Turkey’s total export volume in 2020, the ministry said.

Turkey’s export to the OIC member states dropped by 36.9 percent in April 2020 compared to April 2019 and reached $2.7 billion. The export to the OIC countries made up 29.8 percent of Turkey’s total export volume in April 2020.

According to the ministry, Turkey’s import from the OIC member states decreased by 5.9 percent from January through April 2020 and exceeded $8.4 billion compared to the same period of 2019.

The import from the OIC member-states amounted to 12.2 percent of Turkey’s total import volume from January through April 2020.

In April 2020, Turkey’s import from OIC member states decreased by 39.7 percent compared to April 2019, exceeding $1.4 billion.

Some 10.6 percent of Turkey’s total import volume in April 2020 accounted for the import from the OIC member states.

Turkey's foreign trade turnover amounted to over $22.5 billion in April 2020.

In the reporting month, Turkey's export dropped by 41.4 percent compared to April 2019, having stood at $8.9 billion.

Meanwhile, import of Turkey in April 2020 went down by 25 percent compared to April 2019 and amounted to $13.5 billion.

According to the ministry, in the first four months of the year, Turkey’s trade turnover exceeded $120.8 billion.

"From January through April 2020, Turkey’s export decreased by 13.7 percent compared to the same period of 2019, reaching $51.6 billion," the ministry said.

Turkey’s import grew by 1 percent compared to the same period of 2019, having amounted to $69.2 billion.

Turkey’s foreign trade turnover made up $374.2 billion in 2019.

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Follow the author on Twitter: @rhafizoglu

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