Turkish exports to Asia-Pacific rise to $5.7B in January-August

China becomes largest buyer of Turkish exports in Asia-Pacific, accounting for $2.5B, while exports to Singapore rise fastest in region, data shows

Türkiye’s exports to Asia-Pacific countries increased 18.6% year on year to $5.7 billion in the first eight months of the year, while the country’s total exports rose 4% to $185 billion over the same period, according to the Turkish Exporters’ Assembly (TIM). China received the most Turkish exports bound for the Asia-Pacific region, accounting for $2.5 billion, marking a surge of 35.1% year on year. South Korea followed with $480.2 million, marking a 15.8% surge, Japan with $423.8 million and an 11.8% jump, Indonesia with $365.5 million and a 15.2% increase, and Pakistan with $361.6 million, posting a 2.2% uptick. Singapore saw the highest increase in Turkish exports, with a 154.2% surge compared with the same period last year, reaching $324.5 million. Singapore was followed by Brunei, with a 147.6% rise in Turkish exports totaling nearly $3.1 million, while Turkish exports to Laos rose 82.7% to $5.8 million and to Cambodia by 49.1% to $22.2 million. The total Turkish exports to the country’s largest export markets in the Asia-Pacific region, namely China, South Korea, Japan and Indonesia, reached $3.8 billion in January-August. Turkish exports to 14 Asia-Pacific countries increased while declining in six. Mining products led exports during the first eight months of the year, growing 39.1% in exports to the region and reaching $1.72 billion. Chemical products and goods followed with $983.9 million, and textiles and raw materials with $408.3 million. Istanbul was the largest province by Turkish exports to Asia-Pacific countries in the first eight months of the year, accounting for $4.1 billion of the total, followed by Ankara with $1.3 billion, Izmir with $366.1 million, Elazig with $202.8 million and Kocaeli with $192 million, the data showed.