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12 Sep, 2022 05:40

Turkish exports to Russia nearly double – data

The value and volume of goods has risen dramatically from 2021 levels, trade data shows
Turkish exports to Russia nearly double – data

The volume of Turkish exports to Russia has continued to grow, exceeding $738 million in August alone, TASS reported on Thursday, citing data from the Turkish Exporters Assembly.

“This is 87.2% more than in the same month last year,” the trade association told the media, adding that “In August, Turkey set an absolute record for exports to Russia.” 

Exports have been growing rapidly since Ankara allowed companies to fill the gap left by the exodus of Western companies from Russia.

Last month, Turkey and Russia signed a roadmap for economic cooperation that envisages bringing bilateral trade turnover to $100 billion a year. The two nations have also agreed to introduce the Russian ruble as a currency for bilateral trade, including for Russian natural gas supplies.

At a meeting with Turkish leader Recep Tayyip Erdogan in August, Russian President Vladimir Putin noted that trade volumes between Moscow and Ankara were expanding, soaring by nearly 60% last year and doubling in the first five months of 2022.

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