Relations between Turkiye and Saudi Arabia had been strained in the aftermath of the 2018 assassination of Saudi journalist Jamal Khashoggi, with bilateral trade—including the textile sector—suffering as a result. However, efforts to normalise relations from both countries have led to a substantial increase in garment exports.
In Q1 2023, Turkiye’s garment exports to Saudi Arabia surged fourteen-fold to $52.242 million, a significant increase from the same period last year.
The increase marks a substantial recovery in bilateral trade, with Turkiye’s garment exports jumping from $3.592 million in Q1 2022 to near the total export value of $62.730 million in 2022.
The textile trade between these nations is evolving. Turkiye’s garment exports stood at a mere $3.592 million in Q1, 2022, increasing to $5.038 million in Q2. They then leaped to $30.867 million in Q4 of the same year, culminating in Q1 of this year with the aforementioned $52.242 million. This most recent figure is not far off from the total exports for all of 2022 when Turkiye exported apparel worth $62.730 million. Remarkably, it signifies a more than four-fold increase from the 2021 exports, which totalled $14.415 million, according to Fibre2Fashion’s market insight tool TexPro.
Garment exports from Turkiye experienced a downturn in 2021 due to diplomatic difficulties. Recognising the impact on trade and economic cooperation, the leaders of both nations took corrective measures. As a result, exports to Saudi Arabia, which had plummeted 91 per cent to $14.415 million in 2021 from $172.870 million in 2020, are now witnessing a robust recovery.
Fibre2Fashion News Desk (KUL)