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Exports from Turkey to Russia declining amid rising imports from China — statistics

It is noted that China emerged from the pandemic stronger and began to return to world trade more aggressively

ISTANBUL, November 17. /TASS/. Exports from Turkey to Russia have been declining in recent months due to the strengthening of China's position on the Russian market, the Turkish economic newspaper Ekonomim reported.

According to the publication, citing data from the Turkish Statistical Institute, Turkish exports to Russia decreased by 11% in August and by 25% in September.

Official results for October have not yet been announced, however, as preliminary data from the Turkish Exporters Union show, exports to Russia decreased by 19.8% last month, the newspaper writes. In the meantime, there was an almost two-fold increase in China’s exports to Russia - in October it grew by 17% year-on-year to $8.69 billion, the newspaper says.

"China emerged from the pandemic stronger and began to return to world trade more aggressively," Basaran Bayrak, a representative of the leadership of the Turkish Exporters Union, told the publication. According to him, while Turkey faces serious financial difficulties amid volatility, the Chinese authorities strongly support and encourage industrial and logistics companies, which makes competition with it impossible.

The businessman also spoke about the significant strengthening of China's port infrastructure. "Transportation from China to Europe and Russia has become faster and cheaper than before. By developing alternative routes, China has achieved lower transportation prices. If previously we had difficulty delivering steel from China in 3 months, now we receive it in a month," Bayrak said, adding that Chinese companies do not face the problem of embargo from the West.

Ekonomim also writes that the decline in Turkish exports to Russia has affected international transport traffic. During 10 months, the decrease in ground transportation from Turkey to Russia amounted to about 15% and this is happening against the backdrop of cheaper tariffs from Chinese carriers. In addition, there was a decrease in shipments from Turkish ports to Russia. According to the Directorate General for Maritime Affairs at the Turkish Ministry of Transport and Infrastructure, from January to October they decreased by 29%.

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China Turkey Trade & Cooperation

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