Turkish exports to Russia fell by 34% – Kommersant
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The volume of Turkish exports to Russia fell by 34% in February to $670 million from $1 billion compared to the same period a year earlier. The agency drew attention to the statistics of the Ministry of Trade of Turkey Reuters.
Turkish exports for two months (January-February) fell to $1.29 billion compared to $2.04 billion for the same period in 2022. In February, exports to Russia accounted for 3.2% of Turkey’s total exports. The main export destinations of Turkish trade in February were Germany ($1.723 billion) and the United States ($1.33 billion).
At the same time, in February, Russia became the leader in the supply of goods to Turkey ($4.15 billion). Russia’s share in Turkish imports amounted to 14.8%. Russia is followed by China ($3.43 billion) and Germany ($2.22 billion).
In January 2024, the Turkish Nurol Bank refused to work with a large number of Russian counterparties amid sanctions from the United States. About 40% of Russian banks cooperated with the credit institution.
How US sanctions affected Turkish-Russian trade – in the material “Türkiye is screwing up Russia’s banks”.
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