Turkish exports to Balkan countries surged approximately 17% yearly to hit $23.4 billion (TL 830.70 billion) in 2024, with Romania taking the lead considering the volume and growth compared to the previous year, according to a report Monday.
The outbound shipments to Balkan countries increased by 17.2% compared to 2023, data compiled by Anadolu Agency (AA) from the Turkish Exporters Assembly (TIM) revealed.
The highest volume of exports was made to Romania at nearly $7.55 billion, data showed, with the volume of shipments increasing to most of the countries in this region in the past year.
The data covered countries including Albania, Bosnia-Herzegovina, Bulgaria, Croatia, Montenegro, Kosovo, North Macedonia, Romania, Serbia, Slovenia and Greece.
Considering the volume of exports, Romania was followed by Bulgaria which bought goods worth $4.4 billion from Türkiye and another neighboring country – Greece, which ranked third with nearly $3.32 billion.
Slovenia followed Greece with the volume of slightly above $2.5 billion and Serbia came in next with $1.78 billion.
Meanwhile, during the stated period, exports to Albania stood at $919.5 million, Kosovo at $791.5 million, Bosnia-Herzegovina at $712.5 million, Croatia at $643.6 million, North Macedonia at $621.8 million and Montenegro at $158.1 million.
Overall, the shipments increased in 10 countries while decreasing in one country last year.
The country with the highest increase in exports last year compared to 2023 among the countries in the region was similarly Romania with $997.9 million.
EU-member Romania and Türkiye have enjoyed a boost in trade ties recently and Ankara aims to lift trade volume with the country to $15 billion.
In terms of export growth, this country was followed by Greece with $722.4 million, Bulgaria with $529.5 million and Slovenia with $497.7 million. At the same time, considering export growth, Serbia followed with $301.9 million, Albania with $218.3 million, Kosovo with $84.9 million, Croatia with $33.6 million, Bosnia-Herzegovina with $29.5 million and Macedonia with $29.1 million, respectively.
Exports to Montenegro, on the other hand, decreased by $1.4 million during the same period.
When the distribution of exports to the Balkan countries is examined by province, it is seen that the exports from Istanbul to this region are realized at $10.46 billion, the data revealed.
While the total exports from Istanbul last year stood at the level of $92.14 billion, the share of exports from this province to the Balkan countries was 11.4%.
Sector-wise, the industrial sector came at the front in the exports made to the Balkan region last year. The chemicals and products sector within the industrial group exported some $4.24 billion worth of goods to the Balkan countries during this period.
This sector was closely followed by the automotive industry with $4.05 billion, steel with $3.27 billion, iron and non-ferrous metals with $1.8 billion, and electrical and electronics sector with shipments worth close to $1.55 billion.
