Turkey and Saudi Arabia, Bahrain, Qatar, Iraq, Kuwait, United Arab Emirates (UAE), Iran and Oman, which are called “Gulf countries”, contributed to the development of diplomatic and commercial relations. These developments were reflected in the foreign trade figures between the parties.
According to the compilation of the Turkish Statistical Institute (TURKSTAT) data, Turkey’s total exports to the said countries in 2020-2024 period was recorded as 126 billion 696 million 510 thousand dollars.
Iraq at the summit in exports
When evaluated on a country basis, the most exported country in the following 5 years was Iraq with 59.8 billion dollars. During this period, exports to the UAE rose to three times and rose from $ 2.8 billion to 8.3 billion dollars. Iran and Saudi Arabia were other prominent countries in exports.
During this period, imports from the Gulf countries followed a wavy course. As of last year, 83.4 billion dollars have been paid for goods from these countries in the last 5 years.
Foreign trade surplus increased to 9.6 times
Foreign trade balance with the Gulf countries watched in favor of Türkiye during this period. Türkiye gave a foreign trade surplus in 2020, while this figure increased to 9.6 times and rose to $ 14 billion. In this development, the rapid rise in exports to the UAE was effective.
