Balkans | Turkey’s exports to Bulgaria set a record in the industrial sector

While Turkey’s exports to Bulgaria reached a record high of $4 billion 420 million last year, sectors within the industry generated most of the exports to the country.

Breaking record after record in exports, Turkey also maintains its high performance in foreign sales in the Balkans.

As Turkey strengthens its relations with its neighbor Bulgaria, trade between the two countries is gaining momentum.

The meeting of President Recep Tayyip Erdoğan and President of Bulgaria Rumen Radev last month was one of the most important indicators of this.

In his statement during this meeting, Erdogan said: “We also discussed our economic and trade relations in detail during our meetings. Our trade volume last year reached 6 billion dollars. Our common goal is to increase this amount to 10 billion dollars in a short time after today’s talks. Our cooperation will develop further with the completion of Modernization of the border gates on the Bulgarian side and especially the strengthening of the food inspection infrastructure. I used words.

The historic peak in exports to Bulgaria last year revealed the strength of economic and trade relations between the two countries.

According to the information collected by the AA correspondent from the data of the Turkish Exporters Association (TIM), Turkey’s exports to Bulgaria reached a record high of 4 billion 420 million dollars last year.

While exports to Bulgaria increased by 21.4 percent in 2022 compared to 2021, its share in total exports reached 1.7 percent.

Bulgaria was recorded in the thirteenth place that Turkey exports to last year.

Industrial products are at the forefront of the country’s exports

Industry sectors played an important role in Turkey’s exports to Bulgaria. The most exported sector to Bulgaria was chemicals and their products with a value of 731 million 990 thousand dollars.

After the manufacture of chemicals and products, ferrous and non-ferrous metals sold 624 million 566 thousand dollars, the steel industry sold 604 million 982 thousand dollars, and the electricity and electronics sector sold 403 million 157 thousand dollars.

Exports of chemicals and products to the country increased by 51.7%, ferrous and non-ferrous metals increased by 38.1%, the steel industry increased by 44.2%, and the electricity and electronics industry increased by 28.9%.

The sectors least exported to Bulgaria are tobacco with a value of 919 thousand dollars, ornamental plants and products with a value of 2 million 357 thousand dollars, other industrial products with a value of 2 million 469 thousand dollars, dried fruits and their products with a value of 3 million 323 thousand dollars, ships with 4 million 636 thousand dollars, yachts and services.

Bulgaria has become the second Balkan country to which Turkey exports the largest number of exports

Looking specifically at the geography of the Balkans, Bulgaria is recorded as the second Balkan country to which Turkey exports the most. The Balkan country that exported the most to Turkey was Romania, amounting to 6 billion and 317 million dollars.

While exports to the country increased by 30.2 percent in 2022 compared to 2021, Romania ranks 11th in terms of demand for Turkish products.

AA