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Türkiye’s Exports to Africa Near $20 Billion in 2024

Türkiye's exports to African countries reached $19.4 billion in 2024, marking a 1.7% increase compared to the previous year. According to data from the Turkish Exporters Assembly (TIM), this growth reflects the continued success of Türkiye's long-standing trade strategy with Africa, which was launched in 2003.

In 2003, Türkiye adopted a comprehensive approach to developing its economic and trade relationships with African nations, focusing on boosting trade, investment, technology transfer, know-how exchange, and technical assistance. The strategy has led to numerous joint projects and enhanced cooperation between Türkiye and the continent.

In 2024, Türkiye exported goods to 56 African countries, accounting for 7.4% of the country’s total exports. Egypt was the top destination, with exports totaling $3.5 billion, followed by Morocco at $3.1 billion and Libya at $2.5 billion.

The main sectors driving this export growth include chemicals and chemical products, with $3.1 billion in exports, followed by grains, legumes, oilseeds, and their products at $2.5 billion. Steel exports totaled $2 billion, while automotive industry products reached $1.4 billion, and the electricity and electronics sectors contributed $1.3 billion.

Other significant export categories include machinery and equipment at $1.3 billion, textile products and raw materials at $1.3 billion, and ferrous and non-ferrous metals at $912.7 million.

Efforts to normalize Türkiye’s relations with Egypt have shown positive results, with bilateral meetings between the two nations’ presidents contributing to a 21.8% rise in exports to Egypt.

Additional growth was seen in other African markets, including Ghana, where exports increased by 49.6%, Nigeria at 9.1%, Libya at 8.4%, and Morocco at 6.9%.

 

 

Source
AA

TuraNews

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