Turkish exports to Egypt reaches $872M in Q1 of 2024

Egypt has secured the top position as the largest African importer of Turkish products. According to the Turkish Exporters' Assembly, Turkish exports to the Egyptian market reached $872 million in the first quarter of this year, marking a 28 percent increase compared to the previous year.

 

Data from the assembly reveals that Turkey's exports to African countries witnessed a 1.8 percent growth in the first quarter of this year, amounting to $4.5 billion. Notably, Turkish exports to Egypt experienced a significant surge of 52.2 percent during the same period, highlighting the strengthening trade relationship between the two nations.

 

Today, Egypt's Minister of Trade and Industry, Engineer Ahmed Samir, announced noteworthy progress in the country's export sector, reporting a substantial 5.3 percent increase in commodity exports during the first quarter of 2024. The total value of Egypt's exports reached $9.612 billion, significantly surpassing the $9.129 billion recorded during the corresponding period in 2023.

 

Among the leading destinations for Egyptian exports in Q1 2024, Turkey emerged as a key player with trade valued at $874 million.

 

Both Egypt and Turkey share a commitment to elevate trade exchange to $15 billion in the coming years, foster increased joint investments, and explore new avenues of cooperation.

 

In February 2024, President El Sisi emphasized the strong trade ties between Egypt and Turkey, with Egypt currently being Turkey's primary trading partner in Africa. He further highlighted Turkey's significance as one of the most important destinations for Egyptian exports. This announcement followed Turkish President Tayyip Erdogan's first visit to Egypt since 2012, signifying a significant step toward revitalizing relations between the two countries.