In 2020, Turkey exported goods worth 4.7 billion dollars to Israel. With this figure, Israel ranked 9th among the countries to which Turkey exports the most.
In the first four months of 2021, Turkey's exports to Israel increased by 35 percent compared to the same period of the previous year and reached 1 billion 851 million dollars, and Israel became the 8th country to which Turkey exports the most in this period.
10 years ago, in 2011, Turkey's exports to Israel amounted to $2.4 billion and Israel ranked 17th in Turkey's exports.
In 2002, when AKP came to power, Turkey's exports to Israel amounted to 850 million dollars annually. In 18 years, the figure has increased 4.5 times.
STEEL, AUTOMOTIVE, CHEMICAL AND TEXTILE EXPORT FROM TURKEY
The first sector in Turkey's exports to Israel in 2020 is steel with a figure of 919 million dollars. It is followed by the automotive sector with 704 million dollars.
While chemicals worth 505 million dollars are exported to Israel, ready-made clothing with 359 million dollars, furniture with 310 million dollars and cement with 273 million dollars are listed as the leading export products.
Israel makes a significant portion of its cement imports from Turkey.
Turkey and Israel are two complementary economies
The trade between the two countries is still far from reaching its potential. Turkey and Israel are two complementary economies, not rivals.
Given the political instability in the region, Israel acts as a gateway for Turkey's exports to the Gulf countries. With a population of 9 million, Israel's total imports of 100 billion dollars correspond to one-third of Turkey's imports. Turkey's share in this import is only 3%. This rate is quite small for a country the size of Turkey.
According to Eitam (Consular Chief of the Consulate General of Israel in Istanbul), Turkish sub-share companies can play an important role in Israel's big projects, and Israeli companies can also be involved in big projects here. Evaluating the country's official airline company, El Al, to start cargo flights with Turkey, El Al's decision is a reflection of the growth in the trade volume between the two countries. The decision was taken jointly with the Turkish authorities.