The Turkish economy is groaning under the impact of the popular Saudi boycott … Here are the numbers

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Shrinkage in many vital sectors .. “Traders are crying blood”

The effects of the popular Saudi boycott of Turkish products and imports still erode the crumbling Turkish economy. The latest data from Ankara showed that the ready-to-wear sector exports to Saudi Arabia shrank from $ 25.7 million to $ 13.2 million, by 48.7% during last October.

According to Mustafa Gultepe, head of the Istanbul Readymade Garments Exporters Federation, there is a contraction of 26% compared to the same period last year.

The Turkish official attributed the apparent shrinkage to the popular Saudi boycott of his country’s products, pointing to the need to work to solve this crisis, otherwise store owners will be forced to close them in the near future, according to what Turkish media reported.

Gultib’s statement comes in the wake of the thinking of many international brands that manufacture clothes in searching for manufacturing countries for their products supplied to the Saudi market other than Turkey. This is in the wake of the recent increase in the number of Saudi youth boycotting Turkish-made clothes; This caused huge losses to those global companies.

The Turkish official’s statement comes at a time when the Vice President of the Republican People’s Party, Fayek Oztrak, said that Turkish merchants are crying blood because of the popular Saudi boycott of Turkish products.

The boycott extends to vital sectors

The boycott has also hit many other sectors. As according to Turkish media, exports of many products and sectors decreased during last October. Exports of grains, pulses, oilseeds and their products decreased by 77.44% from $ 21.3 million to $ 4.8 million.

Fresh fruit and vegetable exports decreased by 75.52% from $ 6.5 million to $ 1.5 million, while dried fruit products decreased by 50.37% from $ 1.1 million to $ 552,000.

Exports of olive and olive oil also decreased by 70% from $ 1.1 million to $ 334,000. Likewise, exports of fish and livestock products decreased by 56.28% from $ 5 million to $ 2.2 million. Exports of hazelnuts and hazelnut products also decreased by 70.94% from $ 1.6 million to $ 467,000.

While chemical materials and products decreased by 15.05% from $ 21.5 million to $ 18.3 million, and exports of the air-conditioning industry from $ 6.9 million to $ 6.3 million, down 9.11%, and exports of cement, glass, ceramics and soil products decreased by 25.57% from $ 3.7 million to $ 2.8 million. Meanwhile, steel exports decreased by 11.09% from $ 12.1 million to $ 10.7 million.

As for the leather industries, exports of leather and leather products decreased by 28.48%, from 3.4 million dollars to 2.4 million dollars. Jewelry exports fell 84.43% from $ 1.9 million to $ 291,000.

In the defense and aviation sector, exports decreased by 90.43% from $ 1.1 million to $ 109,000.

Significant losses in contracting

Turkish losses extended to include large sectors other than clothing; A short time ago, Medhat Yeni Gun, the head of the Turkish Contractors Union, admitted that his country had lost an estimated 3 billion dollars in the Middle East last year. In the past year as a result of the impression formed against Turkey. “

The annual number of new projects implemented by Turkish contractors in Saudi Arabia in (2017 and 2018) was $ 2.1 billion and $ 3 billion, respectively, and those numbers decreased to $ 559 million in 2019, and during the first nine months of this year they decreased to $ 21 million. According to what was reported by the Turkish newspaper.

In the same context, the value of Saudi imports of Turkish products plunged to 9.47 billion dollars in 2019, compared to about 12.74 billion dollars in 2015. According to the data of the Saudi Statistics Authority, Saudi Arabia’s imports of Turkish products have continued to decline for 5 consecutive years; It recorded about 12.74 billion dollars in 2015, then decreased to 12.06 billion in 2016, then 11.31 billion in 2017, then 10.04 billion in 2018, until it reached 9.47 billion dollars in 2019.

The Turkish economy is groaning under the impact of the popular Saudi boycott … here are the official casualty figures

Previously

The effects of the popular Saudi boycott of Turkish products and imports still erode the crumbling Turkish economy. The latest data from Ankara showed that the ready-to-wear sector exports to Saudi Arabia shrank from $ 25.7 million to $ 13.2 million, by 48.7% during last October.

According to Mustafa Gultepe, head of the Istanbul Readymade Garments Exporters Federation, there is a contraction of 26% compared to the same period last year.

The Turkish official attributed the apparent shrinkage to the popular Saudi boycott of his country’s products, pointing to the need to work to solve this crisis, otherwise store owners will be forced to close them in the near future, according to what Turkish media reported.

Gultib’s statement comes in the wake of the thinking of many international brands that manufacture clothes in searching for manufacturing countries for their products supplied to the Saudi market other than Turkey. This is in the wake of the recent increase in the number of Saudi youth boycotting Turkish-made clothes; This caused huge losses to those global companies.

The Turkish official’s statement comes at a time when the Vice President of the Republican People’s Party, Fayek Oztrak, said that Turkish merchants are crying blood because of the popular Saudi boycott of Turkish products.

The boycott extends to vital sectors

The boycott has also hit many other sectors. As according to Turkish media, exports of many products and sectors decreased during last October. Exports of grains, pulses, oilseeds and their products decreased by 77.44% from $ 21.3 million to $ 4.8 million.

Fresh fruit and vegetable exports decreased by 75.52% from $ 6.5 million to $ 1.5 million, while dried fruit products decreased by 50.37% from $ 1.1 million to $ 552,000.

Exports of olive and olive oil also decreased by 70% from $ 1.1 million to $ 334,000. Likewise, exports of fish and livestock products decreased by 56.28% from $ 5 million to $ 2.2 million. Exports of hazelnuts and hazelnut products also decreased by 70.94% from $ 1.6 million to $ 467,000.

While chemical materials and products decreased by 15.05% from $ 21.5 million to $ 18.3 million, and exports of the air-conditioning industry from $ 6.9 million to $ 6.3 million, down 9.11%, and exports of cement, glass, ceramics and soil products decreased by 25.57% from $ 3.7 million to $ 2.8 million. Meanwhile, steel exports decreased by 11.09% from $ 12.1 million to $ 10.7 million.

As for the leather industries, exports of leather and leather products decreased by 28.48%, from 3.4 million dollars to 2.4 million dollars. Jewelry exports fell 84.43% from $ 1.9 million to $ 291,000.

In the defense and aviation sector, exports decreased by 90.43% from $ 1.1 million to $ 109,000.

Significant losses in contracting

Turkish losses extended to include large sectors other than clothing; A short time ago, Medhat Yeni Gun, the head of the Turkish Contractors Union, admitted that his country had lost an estimated 3 billion dollars in the Middle East last year. In the past year as a result of the impression formed against Turkey. “

The annual number of new projects implemented by Turkish contractors in Saudi Arabia in (2017 and 2018) was $ 2.1 billion and $ 3 billion, respectively, and those numbers decreased to $ 559 million in 2019, and during the first nine months of this year they decreased to $ 21 million. According to what was reported by the Turkish newspaper.

In the same context, the value of Saudi imports of Turkish products plunged to 9.47 billion dollars in 2019, compared to about 12.74 billion dollars in 2015. According to the data of the Saudi Statistics Authority, Saudi Arabia’s imports of Turkish products have continued to decline for 5 consecutive years; It recorded about 12.74 billion dollars in 2015, then decreased to 12.06 billion in 2016, then 11.31 billion in 2017, then 10.04 billion in 2018, until it reached 9.47 billion dollars in 2019.

November 17, 2020 – Rabi` al-Thani 2, 1442

02:03 AM

Last update
November 17, 2020 – Rabi` al-Thani 2, 1442

08:06 AM


Shrinkage in many vital sectors .. “Traders are crying blood”

The effects of the popular Saudi boycott of Turkish products and imports still erode the crumbling Turkish economy. The latest data from Ankara showed that the ready-to-wear sector exports to Saudi Arabia shrank from $ 25.7 million to $ 13.2 million, by 48.7% during last October.

According to Mustafa Gultepe, head of the Istanbul Readymade Garments Exporters Federation, there is a contraction of 26% compared to the same period last year.

The Turkish official attributed the apparent shrinkage to the popular Saudi boycott of his country’s products, pointing to the need to work to solve this crisis, otherwise store owners will be forced to close them in the near future, according to what Turkish media reported.

Gultib’s statement comes in the wake of the thinking of many international brands that manufacture clothes in searching for manufacturing countries for their products supplied to the Saudi market other than Turkey. This is in the wake of the recent increase in the number of Saudi youth boycotting Turkish-made clothes; This caused huge losses to those global companies.

The Turkish official’s statement comes at a time when the Vice President of the Republican People’s Party, Fayek Oztrak, said that Turkish merchants are crying blood because of the popular Saudi boycott of Turkish products.

The boycott extends to vital sectors

The boycott has also hit many other sectors. As according to Turkish media, exports of many products and sectors decreased during last October. Exports of grains, pulses, oilseeds and their products decreased by 77.44% from $ 21.3 million to $ 4.8 million.

Fresh fruit and vegetable exports decreased by 75.52% from $ 6.5 million to $ 1.5 million, while dried fruit products decreased by 50.37% from $ 1.1 million to $ 552,000.

Exports of olive and olive oil also decreased by 70% from $ 1.1 million to $ 334,000. Likewise, exports of fish and livestock products decreased by 56.28% from $ 5 million to $ 2.2 million. Exports of hazelnuts and hazelnut products also decreased by 70.94% from $ 1.6 million to $ 467,000.

While chemical materials and products decreased by 15.05% from $ 21.5 million to $ 18.3 million, and exports of the air-conditioning industry from $ 6.9 million to $ 6.3 million, down 9.11%, and exports of cement, glass, ceramics and soil products decreased by 25.57% from $ 3.7 million to $ 2.8 million. Meanwhile, steel exports decreased by 11.09% from $ 12.1 million to $ 10.7 million.

As for the leather industries, exports of leather and leather products decreased by 28.48%, from 3.4 million dollars to 2.4 million dollars. Jewelry exports fell 84.43% from $ 1.9 million to $ 291,000.

In the defense and aviation sector, exports decreased by 90.43% from $ 1.1 million to $ 109,000.

Significant losses in contracting

Turkish losses extended to include large sectors other than clothing; A short time ago, Medhat Yeni Gun, the head of the Turkish Contractors Union, admitted that his country had lost an estimated 3 billion dollars in the Middle East last year. In the past year as a result of the impression formed against Turkey. “

The annual number of new projects implemented by Turkish contractors in Saudi Arabia in (2017 and 2018) was $ 2.1 billion and $ 3 billion, respectively, and those numbers decreased to $ 559 million in 2019, and during the first nine months of this year they decreased to $ 21 million. According to what was reported by the Turkish newspaper.

In the same context, the value of Saudi imports of Turkish products plunged to 9.47 billion dollars in 2019, compared to about 12.74 billion dollars in 2015. According to the data of the Saudi Statistics Authority, Saudi Arabia’s imports of Turkish products have continued to decline for 5 consecutive years; It recorded about 12.74 billion dollars in 2015, then decreased to 12.06 billion in 2016, then 11.31 billion in 2017, then 10.04 billion in 2018, until it reached 9.47 billion dollars in 2019.





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