In 5 years, Türkiye’s exports to the Gulf states touch $ 127 billion economy

The value of Turkish exports to the Gulf countries reached about 126.7 billion dollars, between 2020 and 2024.

According to the Anatolia Agency, the trade with the Gulf states, Saudi Arabia, Qatar, Bahrain, the Emirates, Oman, Kuwait, Iraq, and Iran witnessed an accelerated momentum in recent years with the conclusion of economic agreements and the development of diplomatic and trade relations with the countries of the region.

According to information collected by Anatolia from the data of the Turkish Statistics Authority, the value of Turkish exports to the Gulf states in the past 5 years amounted to 126 billion and 696 million dollars.

Iraq ranked first in importing from Türkiye, with a value of $ 59.8 billion.

Turkish exports to the UAE doubled about 3 times during this period, as they recorded progress from 2.8 billion dollars to 8.3 billion dollars.

The value of Turkish imports from the countries of the region in the same period amounted to $ 83.4 billion.

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And last month, Turkish President Recep Erdogan announced the country’s record of record in the history of the Republic during the year 2024, at 262 billion dollars.

He explained that the Turkish economy grew by 2.1% in the third quarter of 2024, to record continuous growth without interruption over 17 quarter.

He also said that the Turkish economy reached a growth rate of 3.2% during the first 9 months of 2024.

He stated that the size of the economy increased from one trillion and 130 billion dollars (2023) to a trillion and 260 billion dollars in the annual account in the third quarter of 2024.

President Erdogan expected that the per capita income in Türkiye exceeded $ 15,000 during 2024, and 17 thousand dollars during the current year.

He continued: “We aim to reach a growth rate of 4% during the year 2025, with the support of net exports and fixed capital investments.”