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The growth in trade exchange between Saudi Arabia and Turkey increased by 73.7%

ISTASYA PROPERTY
September 17, 2022
1:46 pm

The growth in trade exchange between Saudi Arabia and Turkey increased by 73.7%
The volume of trade exchange between Saudi Arabia and Turkey recorded a growth of 73.7% in June 2022.

Trade exchange between Saudi Arabia and Turkey grew by 73.7%

The volume of trade exchange between Saudi Arabia and Turkey increased by 73.7% in June 2022 with the improvement of diplomatic and economic relations between the two countries.

Trade exchange between the Kingdom of Saudi Arabia and Turkey increased from $358 million in June 2021 to $622 million in June 2022, according to data from the General Authority for Statistics (a Saudi government authority) issued on Wednesday 08/24/2022.

A reciprocal rise in exports between Turkey and Saudi Arabia

In the same context, Saudi Arabia’s exports to Turkey increased by $608 million in June 2022 compared to $348 million in the same month of 2021, an increase of 74.4 percent to $608 million.

Turkey’s exports to Saudi Arabia increased by 47.3 percent, reaching $14.4 million after $9.8 million.

While most of Saudi Arabia’s non-oil exports to Turkey are chemicals and minerals, Turkey’s exports to Saudi Arabia mostly include machinery, mechanical devices, and electrical equipment.

Sources: Anadolu Agency