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Turkish exports to Russia down 32% in Q1 due to issues with payments — paper

In March alone exports from Turkey to Russia went down by 28% year-on-year to $758 mln, according to statistics

ISTANBUL, April 8. /TASS/. Exports from Turkey to Russia due to the West’s sanctions policy and issues with money transfers fell by 32.1% in Q1 compared with 2023, the Ekonomim newspaper said citing figures provided by the Turkish Statistical Institute.

In January-March only 4 out of 25 Turkish sectors increased export to Russia, with losses in the chemical industry, which accounts for the bulk of supplies, having reached 32.4%. The largest decline was registered in three sectors, including tobacco industry, leather ware and jewelry, according to data from the Turkish Exporters Assembly.

In March alone exports from Turkey to Russia went down by 28% year-on-year to $758 mln, according to statistics. In Q1 exports to Russia amounted to $2.1 bln compared with $3.1 bln in the same period last year.

Turkish exports to CIS countries also declined, the paper wrote. The decline in Q1 totaled 14%.