Export from Turkey to OIC member countries lowers in 1H2020

Export from Turkey to OIC member countries lowers in 1H2020

BAKU, Azerbaijan, Aug. 3

By Rufiz Hafizoglu - Trend:

Turkey’s export to the member states of the Organization of Islamic Cooperation (OIC) in the first half of this year decreased by 15.4 percent compared to the same period of 2019, having slightly exceeded $19.9 billion, the Turkish Ministry of Trade told Trend on August 3.

During the reporting period, the export to the OIC member states made up 26.6 percent of Turkey’s total export volume in 2020, the ministry said.

Meanwhile, Turkey’s export to the OIC member states grew by 17.7 percent compared to June 2019 and stood at $3.4 billion. The export to the OIC countries made up 25.4 percent of Turkey’s total export volume in June 2020.

According to the ministry, Turkey’s import from the OIC member states dipped by 0.8 percent from January through June 2020 and made up slightly over $13.3 billion compared to the same period of 2019.

The import from the OIC member states amounted to 13.5 percent of Turkey’s total import volume from January through June 2020.

In June 2020, Turkey’s import from OIC member states rose by 49.6 percent compared to June 2019, slightly exceeding $2.9 billion.

Some 17.8 percent of Turkey’s total import volume in June 2020 accounted for the import from the OIC member states.

The ministry noted that Turkey's exports during the reporting month increased by 15.7 percent compared to the same month of 2019, amounting to $13.4 billion.

At the same time, imports of Turkey rose by 8.3 percent over the year and exceeded $16.3 billion.

From January through June 2020, Turkey's trade turnover amounted to over $174.1 billion.

In 1H2020, Turkey's exports dropped by 15.1 percent compared to 1H2019, making up $75.2 billion, the ministry said.

In the first half of this year, Turkey's imports declined by 3.2 percent compared to the same period of 2019, amounting to $98.8 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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