Turkey’s exporters may have reported their best-ever October, but exports to Russia have dropped one-fifth year-on-year. There had been hopes of boosting trade after Russia downgraded links with the West, figures released by the country’s leading export organization have shown.
The total value of the goods sent to Russia by Turkish exporters slid to $493.9 million in October from $621.9 million in the same month last year, the Turkish Exporters’ Assembly (TİM) announced on Nov. 1.
In early August, Russia banned food imports, worth about $9 billion, from the European Union, the United States, Canada, Australia and Norway in response to trade sanctions connected with their role in the Ukraine crisis.
Officials in Turkey have predicted a near-doubling in their fruit and vegetable exports to Russia. Authorities from both countries are also working to ease custom regulations, which have been a persistent problem for Turkish merchants trading with Russia.