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Turkey's export to D-8 countries drops compared to last year

Türkiye Materials 3 July 2020 15:38
Turkey's export to D-8 countries drops compared to last year

BAKU, Azerbaijan, July 3

By Rufiz Hafizoglu - Trend:

Turkey's export to D-8 countries (Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan) decreased by 25.1 percent from January through May 2020 compared to the same period in 2019, having made up slightly over $2.6 billion, Trend reports on July 3 referring to the Turkish Trade Ministry.

In the reporting period, Turkey's export to the D-8 countries amounted to 4.3 percent of the country’s total export for 2020.

Turkey's export to the D-8 countries in May 2020 fell by 57 percent, compared to the same month of 2019, having stood at $338.4 million.

"In May 2020, Turkey's export to the D-8 countries amounted to 3.4 percent of its total export," the ministry said.

According to the ministry, Turkey's import from the D-8 countries dropped by 46.2 percent from Jan. through May 2020, compared to same period of 2019, and amounted to $2.8 billion.

"Turkey’s import from the D-8 countries in these months made up 3.5 percent of its total import for the same period," the ministry noted.

According to the ministry, Turkey's import from the D-8 countries in May 2020 plunged by 59.8 percent, compared to the same month of 2019, having made up $453.4 million.

"In May 2020, Turkey’s import from the D-8 countries amounted to 3.8 percent of the total import for the same month of this year," added the ministry.

Turkey's foreign trade turnover in May 2020 amounted to over $23.3 billion.

In the reporting month, Turkey's exports dropped by 40.9 percent compared to May 2019, having stood at over $9.9 billion.

Meanwhile, imports of Turkey in May 2020 went down by 27.8 percent compared to May of last year and amounted to $13.3 billion.

According to the ministry, in the first 5 months of this year, Turkey’s trade turnover made up $144.1 billion.

From January through May 2020, Turkish exports decreased by 19.7 percent compared to the same period in 2019, having amounted to $ 61.5 billion, the ministry said.

It was also noted that Turkish imports dipped by 5.2 percent compared to the same period in 2019, having made up $82.5 billion.

The foreign trade turnover of Turkey in 2019 made up $374.2 billion.

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