[Economics] Turkish Exports to Morocco Reach $3 Billion in 2022 Amid Ukraine War

[The GodFather]

 

 

Rabat - The value of Turkiye’s exports to Morocco slightly increased in 2022, rising from $2.98 billion in 2021 to $3 billion, Turkish news agency Andolu Agency (AA) reported.

A notable increase in Turkish exports to African countries, including Morocco, came as Turkiye was looking for alternatives to the Russian and Ukrainian markets amid the war in Ukraine.

The ongoing war has caused major hurdles to Turkiye’s export sector due to the continuous cancellations and postponements of orders from the two East European nations, AA explained. 

Turkiye’s exports to African countries hit a record of $21 billion in 2022, an increase of 12.3% compared to the year prior. In addition, African countries represented 8.6% of Turkiye’s total exports in 2022.

With an export value of $3.9 billion in 2022, Egypt is Turkiye’s top export destination in the African continent, followed by Morocco in second place.

 

 

Read also: Turkey’s Exports to Morocco Increase Despite Imposed Tariffs

Meanwhile, Libya came in third place with $2.4 billion, ahead of Algeria ($1.9 billion) and South Africa ($1.6 billion), respectively.

The Turkish news agency indicated that the chemicals sector contributed the most to Turkiye’s exports to African countries, with a total of $4.02 billion, nearly a third of Turkish exports to the continent.

Besides Africa, Turkish exports to Europe reached $93.6 billion in 2022, while accounting for $32.8 billion for countries in the Middle East and North Africa (MENA) region during the same period.

© Morocco World News. All Rights Reserved. This material may not be published, rewritten or redistributed without permission.

 

 

https://www.moroccoworldnews.com/2023/01/353524/turkish-exports-to-morocco-reach-3-billion-in-2022-amid-ukraine-war