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Apparel exports from Turkey to Saudi Arabia declined to $172.870 million in 2020, compared to a shipment value of $268.612 million in 2019. Business was also badly hit by the COVID-19 pandemic. Shipments in 2021 are projected to drop further by less than 10 percent, from $172.870 million in 2020 to just $14.415 million in 2020 due to trade sanctions. Fibre2Fashion’s market insight tool TexPro,
However, efforts by both countries to normalize their relations have had a positive impact on trade. Leaders’ visits also played an important role in normalizing relations. Turkey’s apparel exports to Saudi Arabia to increase by 342 percent to $62.730 million in 2022. texpro, Reports suggest that business continued to improve in the first two months of the current year.
Turkey’s apparel exports to Saudi Arabia have recovered sharply following a period of strained diplomatic and trade relations following the murder of Saudi journalist Jamal Khashoggi. Turkey’s apparel exports to Saudi Arabia are set to increase by 342 percent to $62.730 million in 2022 following efforts to normalize relations between the two countries, including visits by leaders.
Garment exports remained negligible through mid-2022, with a shipment value of only $5.038 million in the second quarter of 2022. However, it grew significantly to $23.231 million in Q3 and $30.231 million in Q4 2022.
Fibre2Fashion News Desk (KUL)