Export from Turkey to OIC member countries drops

Export from Turkey to OIC member countries drops

BAKU, Azerbaijan, August 1

By Rufiz Hafizoglu - Trend:

Turkey’s export to the member states of the Organization of Islamic Cooperation (OIC) from January through May of this year decreased by 20 percent compared to the same period of 2019, having slightly exceeded $16.5 billion, the Turkish Ministry of Trade told Trend.

During the reporting period, the export to the OIC member states made up 26.9 percent of Turkey’s total export volume in 2020, the ministry said.

Meanwhile, Turkey’s export to the OIC member states plunged by 46.3 percent compared to May 2019 and stood at $2.4 billion. The export to the OIC countries made up 24.9 percent of Turkey’s total export volume in May 2020.

According to the ministry, Turkey’s import from the OIC member states decreased by 9.3 percent from January through May 2020 and made up slightly over $10.4 billion compared to the same period of 2019.

The import from the OIC member-states amounted to 12.7 percent of Turkey’s total import volume from January through May 2020.

In May 2020, Turkey’s import from OIC member states decreased by 21.1 percent compared to May 2019, slightly exceeding $2 billion.

Some 15.2 percent of Turkey’s total import volume in May 2020 accounted for the import from the OIC member states.

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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Follow the author on Twitter: @rhafizoglu

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