Turkiye’s exports to Russia have exhibited a consistent quarterly increase, with the exception of the second quarter of last year. The trade volume climbed to $70.032 million in the first quarter of 2022, then dipped to $60.534 million in the second quarter, before rebounding to $95.887 million in the third quarter and $110.637 million in the fourth quarter of the same year. In the first quarter of 2023, the export volume rose to $181.471 million, As per Fibre2Fashion’s market insight tool TexPro.
These exports have also displayed rapid annual growth. Trade volume totalled $337.092 million in 2022, a significant increase compared to $273.818 million in 2021, $213.802 million in 2020, $265.154 million in 2019, and $242.492 million in 2018.
In the wake of the Ukraine conflict, Turkiye’s Q1 2023 apparel exports to Russia tripled to $181.471 million, making Russia the 7th largest market for Turkish apparel.
This consistent increase has shown impressive annual growth, with a trade volume of $337.092 million in 2022 compared to $273.818 million in 2021.
Previously, in Q1 2022, Russia ranked 16th.
In the first quarter of this year, Russia became the seventh largest market for Turkish apparel, accounting for 3.70 per cent of Turkiye’s total apparel exports of $4.899 billion. Germany, Spain, the Netherlands, the United Kingdom, France, and the United States were larger markets than Russia.
Russia was the 16th largest market, with a 1.45 per cent share of Turkiye’s total apparel exports during the first quarter of last year. During the first quarter of 2021, Russia had a 1.66 per cent share of the total exports, ranking 15th, as per TexPro.
Fibre2Fashion News Desk (KUL)
