Türkiye’s exports to the United Kingdom reached $8.3 billion (TL 281.61 billion) in January through August, the highest first eight-month performance of all time, according to a report on Thursday.
Exports to the U.K. in the first eight months of the year rose 10.8% year-over-year, according to data from the Turkish Exporters Assembly (TIM) compiled by Anadolu Agency (AA).
Automotive products accounted for the largest share and rose the highest among the exports to the U.K., reaching $2.7 billion in January-August, registering a rise of $602 million, followed by electrical products, valued at $1.1 billion.
Among other exported items, clothing and apparel products reached $982.1 million and chemical products $578.2 million in the same period.
Also, machinery products and parts exported to the U.K. rose $31.4 million to $202.2 million, while steel exports increased to $427.3 million, up $147.6 million.
Meanwhile, furniture and forestry exports to the U.K. amounted to $286.5 million, an increase of $25.3 million, and jewelry exports rose $24.1 million to $68.3 million in the same period.
Overall, Türkiye’s total exports rose to $170.8 billion in the first eight months of the year, up 3.9% annually.
From January through August, most Turkish exports were received by Germany, valued at $12 billion, followed by the U.S. with $8.8 billion, the U.K. with $8.3 billion, Italy with $7.6 billion and Iraq with $6.8 billion.
Türkiye and the U.K. are targeting to reach over $20 billion in bilateral trade volume this year, as the negotiations on updating the free trade agreement (FTA) between the two countries are underway.
The U.K. was also among the countries Türkiye received the most investment from in the first six months of the year.
The Netherlands had the largest share of investment capital to Türkiye at 20% in January-August, followed by the U.S. at 13%, Germany at 10%, Ireland at 9%, and Norway and the U.K. at 8% each.
