Turkish exports to Africa exceeded $15 billion in the first 10 months of 2024

Turkish Exports to Africa Reach $15.1 Billion, Highlighting Growing Economic Ties.

Newstimehub

Newstimehub

13 Nov, 2024

Turkish exports to African countries reached $15.1 billion between January and October 2024, marking a 1.8% increase compared to the same period last year.

Turkey’s exports to African countries reached $15.1 billion from January to October 2024, indicating a 1.8% increase compared to the same period last year. Trade with Africa now represents 7% of Turkey’s total exports, making the continent Turkey’s sixth-largest market among its 12 main trading partners. This growth underlines expanding economic links between Turkey and African nations, spanning sectors such as construction, energy, and investment.

In recent years, Ankara has deepened its ties with Africa considerably. The number of Turkish embassies on the continent rose from 12 in 2003 to 44 in 2024, reflecting stronger diplomatic and economic relationships.

Leading Export Markets

Among African nations, Egypt was the largest importer of Turkish goods, receiving $2.9 billion in exports during the first ten months of the year. Other major markets included Morocco ($2.5 billion), Algeria ($2 billion), Libya ($1.9 billion), and Tunisia ($859.2 million). South Africa, Nigeria, Djibouti, Ghana, and Senegal also remained significant trade partners, collectively accounting for over $2 billion in exports.

Sector Performance

Chemicals led Turkey’s exports to Africa, totaling $2.5 billion, followed by grains, pulses, and oilseeds ($2.3 billion), steel ($1.7 billion), automotive products ($1.2 billion), and electrical and electronic goods ($1.1 billion). Notable growth was seen in chemicals (up $248.5 million), jewelry ($137.7 million), and textiles ($98.6 million). Machinery and components, with exports of $1.1 billion, and jewelry, with sales of $309.7 million, also contributed significantly.