The share of the ruble in Turkish trade turnover almost doubled over the year

The total volume of ruble payments in Turkish trade turnover in 2023 amounted to $1.2 billion (in dollar terms). This included $714 million in exports and $474 million in imports. The share of the Russian currency in Turkish trade turnover reached 0.19%. In a year it almost doubled reports Frank Media with reference to data from the official Turkish statistics portal TurkStat.

The share of reserve currencies – the dollar, euro, British pounds and yen – in Turkish trade turnover decreased year on year from 95.7% to 93.4%. The percentage of ruble transactions, on the contrary, became the highest in ten years. The previous maximum value was recorded in 2014, when the share of settlements in rubles was 0.12% (volume: $520 million).

Should be added: previously TurkStat reportedthat in 2023 Russia became Turkey’s largest import trading partner with a share of 12.6%. China is in second place with 12.4%.