Exports increase most to Australia, N Zealand in 8 months

ISTANBUL

Türkiye’s exports to Australia and New Zealand soared 26 percent in the January-August period from a year ago, marking the biggest increase among all country groups, while Europe remained the largest export market.

Shipments to Australia and New Zealand amounted to $828 million in the first eight months of 2024, a 0.5 percent share in Türkiye’s overall export revenues.

South America came second with an annual increase of 18.1 percent to $1.96 billion, according to a study by the Trade Ministry on the geographical analysis of export markets.

Exports to Asia rose 10.8 percent year-on-year in the January-August period in 2024, the third highest increase, to $1.32 billion.

Europe absorbed 56.9 percent of Türkiye’s exports in January-August. In the first 8 months of 2024, the country’s exports to European nations grew 2.5 percent annually to $97.2 billion.

The annualized exports to European countries amounted to $146.3 billion as of August.

The share of the Near and Middle East region in exports was 16.8 percent, or $28.7 billion, while Africa came third at 8.1 percent or $13.8 billion.

Asia and North America ranked fourth and fifth at 7.9 percent ($13.55 billion) and 6.8 percent ($11.65 billion) of increases from a year ago, respectively.

The ministry said that exports to countries with which Türkiye has a free trade agreement surged 14.1 percent year-on-year to $25.1 billion.

Exports to neighboring countries increased by 10.8 percent to $22 billion.

Türkiye’s overall exports rose by 3.9 percent year-on-year in January-August to $170.8 billion.

The 12-month trailing exports amounted to $262 billion as of August.