Turkey’s six-month export to D-8 countries drops

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Turkey’s export to D-8 Organzation for Economic Cooperation member countries (Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, and Pakistan) decreased by 21.1 percent from January through June 2020 compared to the same period in 2019, having made up slightly over $3.2 billion, Trend reports on Aug. 3 referring to the Turkish Trade Ministry.

In the reporting period, Turkey’s export to the D-8 countries amounted to 4.3 percent of the country’s total export for 2020.

Turkey’s export to the D-8 countries in June 2020 grew by 3.1 percent, compared to the same month of 2019, having stood at $607 million.

Meanwhile, exports to D-8 countries made up 4.5 percent of Turkey’s total exports for June 2020.

Turkey’s imports from the D-8 country plunged by 43.9 percent in the first half of 2020 compared to the same period in 2019, being equal to slightly over $3.3 billion, according to the ministry.

Imports from D-8 countries amounted to 3.4 percent of Turkey’s total imports in the first half of 2020, the ministry said.

In June 2020, Turkey’s imports from D-8 countries went down by 24.5 percent compared to June 2019, amounting to $481 million.

“Imports from D-8 member countries made up three percent of Turkey’s total imports in June 2020,” the ministry said.

Turkey’s exports during the reporting month increased by 15.7 percent compared to the same month of 2019, amounting to $13.4 billion.

At the same time, imports of Turkey rose by 8.3 percent over the year and exceeded $16.3 billion.

From January through June 2020, Turkey’s trade turnover amounted to over $174.1 billion.

In 1H2020, Turkey’s exports dropped by 15.1 percent compared to 1H2019, making up $75.2 billion, the ministry said.

In the reporting period, Turkey’s imports declined by 3.2 percent compared to the same period of 2019, amounting to $98.8 billion.

The foreign trade turnover of Turkey in 2019 made up $374.2 billion.