Turkey's exports to the United Kingdom increased to US$ 3 billion 57 million 155 thousand in the first quarter of 2022 with an increase of 12.2 percent compared to same period last year. In said period, the highest amount of exports were realized from Istanbul, followed by Kocaeli, Izmir, Denizli and Bursa.
According to information compiled from the data of the Turkish Exporters Assembly (TIM), Turkey's exports amounted to 60 billion 288 million dollars in the first quarter of the year with an increase of 20.8 percent compared to the same period last year.
The United Kingdom became the 4th country where Turkey made the highest amount foreign sales in the first quarter of the year. Exports to the United Kingdom went up to 3 billion 57 million 155 thousand dollars with an increase of 12.2 percent in the first 3 months compared to the same period last year. The share of the United Kingdom in Turkey's exports was 5.54 percent.
The countries with the highest amount of exports for Turkey, during the period in question were Germany, the USA, Italy and the United Kingdom, respectively.
The automotive industry was the sector that realized the highest amount of exports to the United Kingdom during this period. The foreign sale of the automotive industry to the United Kingdom increased to $ 812.6 million in the first quarter corresponding to 7.3 percent compared to the same period last year. Foreign sales of Istanbul companies to the United Kingdom increased to $ 1 billion 237.1 million in the first 3 months with an increase of 18.6 percent compared to the same period last year.
"We will continue our cooperation with all business partners for the success of Turkish-British commercial relations"
Osman Okyay, Chairman of the Business Council of the Council of Foreign Economic Relations (DEIK) Turkey-United Kingdom, stated that the United Kingdom maintained its critical position in foreign trade as one of the most important export markets of Turkey.
Okyay also said, "The export volume of $ 3 billion realized in the first quarter of 2022 is a strong indicator of the revival of economies after the COVID-19 pandemic and Turkey's growing production capabilities.
Okyay went on to say, both Turkey and the United Kingdom expect trade volumes to increase with the growth of economic activities thanks to an open discourse and right policies between the two countries.