Turkey's Exports to Balkan Countries Reach $1.45 Billion

Turkchem 20 Feb 2023 72 2 dk okuma

TURKCHEM

Exports to Balkan countries in January reached USD 1.45 billion, up 8.4% compared to the same period last year. Based on data compiled from the Turkish Exporters Assembly (TİM), Turkey exported USD 1.45 billion to the Balkan region in January, encompassing Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Montenegro, Kosovo, North Macedonia, Romania, Serbia, Slovenia and Greece. Over the one-year period, exports to the Balkans region increased by 8.4%, with Romania receiving the largest share of exports last month at USD 444.404 million. Romania was followed by Bulgaria with USD 306.514 million, Greece with USD 187.673 million, Slovenia with USD 153.550 million and Serbia with USD 114.452 million. During the period in question, exports to Croatia totalled USD 49.905 million, Albania USD 49.361 million, North Macedonia USD 47.757 million, Bosnia and Herzegovina USD 45.565 million, Kosovo USD 37.491 million and Montenegro USD 14.138 million.

Largest growth recorded in Montenegro

Exports to the Balkan region increased in 6 countries last month while declining in 5 countries. During this period, the largest export growth was recorded to Montenegro at 104.1%. Montenegro was followed by Romania at 29.1%, Croatia at 17.8%, North Macedonia at 17.4%, Slovenia at 14.8% and Kosovo at 3.5%. Exports to Greece declined by 2.1%, Serbia by 3.3%, Bulgaria by 3.7%, Bosnia and Herzegovina by 7.9% and Albania by 12.5%.

Istanbul's exports reach USD 680 million

When examining the distribution of exports to Balkan countries by province, exports from Istanbul to this region totalled USD 683.682 million. With this amount, Istanbul alone accounted for 46.9% of the USD 1.45 billion in exports to Balkan countries.

Automotive sector leads exports

The automotive industry recorded the largest exports to the Balkan region in January. The automotive sector exported USD 256.702 million to Balkan countries during this period. The automotive industry was followed by chemicals and chemical products at USD 247.763 million, steel at USD 154.565 million, iron and non-ferrous metals at USD 124.752 million and electrical and electronic sectors at USD 109.880 million.