Istanbul-based companies’ exports rise 33 percent

ISTANBUL

Exports by Istanbul-based companies increased more than 33 percent on an annual basis to hit $3.75 billion in the first four months of the year, a business group has said.

Those companies shipped products to 190 countries, and their share in Turkey’s total exports was 4.9 percent in January-March, said the Istanbul Exporters’ Association (İİB).

Iraq was the largest market for Istanbul-based companies. Exports to this country amounted to $266 million in the first four months. Firms exported mainly poultry and animal products, furniture and paper and forestry products.

The U.S, Norway, Germany and the U.K were the other major markets for Istanbul-based exporting companies.

On a geographical region basis, the Middle East was the biggest market, with $767 million worth of goods exported.

In April alone, Istanbul-based companies generated more than $1 billion in export revenues, marking a 36.1 percent increase from the same month of 2021.

Norway topped the largest export markets list, followed by Iraq and the U.S.