Progress in the negotiations to update the Türkiye–United Kingdom Free Trade Agreement is reported to have contributed to accelerating trade between the two countries. The parties aim to increase bilateral trade volume to $40 billion in the long term.
According to data from the Turkish Exporters Assembly, Türkiye’s exports to the United Kingdom increased by 8.3% in the first two months of the year compared with the same period last year. During the same period last year, exports to the country totaled $2 billion 71 million 800 thousand.
During this period, the United Kingdom became Türkiye’s second-largest export market after Germany. Exports to Germany reached $3 billion 248 million 500 thousand in January–February, while the United States ranked third with $2 billion 21 million 200 thousand. Italy and Spain followed these countries.
The United Kingdom also ranked second among the countries where Türkiye recorded the largest increase in export value. In this period, exports to Germany rose by $187 million 200 thousand, while exports to the United Kingdom increased by $172 million 400 thousand.
On a sectoral basis, the automotive industry recorded the highest exports to the United Kingdom in January–February, reaching $573 million 367 thousand. This sector was followed by electrical and electronics, ready-to-wear and apparel, chemicals, and steel.
The most notable increase in exports was seen in the steel sector. Steel exports rose by $40 million 600 thousand compared with the same period last year. Electrical and electronics, iron and non-ferrous metals, and ship, yacht and services were also among the sectors contributing to export growth.
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