By Ali Canberk Ozbugutu and Emir Yildirim
ISTANBUL (AA) – Türkiye’s exports to Europe rose 7.1% year-on-year in January, totaling $10.3 billion, despite the economic stagnation and recession concerns of the EU, according to Turkish Exporters’ Assembly (TIM) data, compiled by Anadolu.
Geopolitical tensions with the war in Ukraine and tight monetary policies in the face of high inflation give rise to vulnerabilities in Europe.
US President Donald Trump’s global tariff threats and potential further tariffs also affect the economy of the region.
Despite the negative developments, 48% of Türkiye’s exports were sent to Europe, data showed. Türkiye’s exports rose 5.8% on an annual basis last month to $21.1 billion.
The auto industry came in way ahead for Turkish export items to Europe, totaling $2.6 billion in January, followed by chemicals and chemical products with $1.4 billion, ready-to-wear clothing and apparel with $1.1 billion, electricity and electronics with $752.7 million, ferrous and non-ferrous metals with $767.1 million and steel with $691.8 million.
Germany received the highest Turkish exports, reaching $1.6 billion last month, while the UK followed with $1.1 billion, Italy with $910.5 million, France with $795.7 million and Spain with $774 million.
Most Turkish exports to Europe in January were from Istanbul, accounting for $2.9 billion in January.
At the same time, exports from the northwestern provinces of Kocaeli and Bursa followed with $1.4 billion and $948.8 million, respectively, while Izmir, in the southwest, recorded $625.1 million in exports to Europe, Ankara saw $419.2 million and Sakarya, in the northwest, exported $385.7 million.