Turkey's Iron and Steel exports to Saudi Arabia saw a significant increase in July

While Turkey did not import iron and steel from Saudi Arabia in June and July of this year, the situation with exports was different. Iron and steel exports from Turkey to Saudi Arabia increased by 26.33% in July compared to the previous month, rising from 1 million 594 thousand dollars to 2 billion 14 thousand dollars.

In the first month of the year, these exports were valued at 6 million 802 thousand dollars, and in February, they increased by 15% to reach 7 million 834 thousand tons. March witnessed an 86% increase compared to February, reaching 14 million 581 thousand dollars.

Turkey's iron and steel imports from Saudi Arabia did not occur in the first quarter of the year. However, a record increase of 28 million 865 thousand dollars was seen in April 2023. On the export side, there was a 77% decrease in April compared to the previous month, and this downward trend continued in May. In May 2023, a 17% decrease was recorded compared to April. Nevertheless, iron and steel exports from Turkey to Saudi Arabia decreased by 41.5% to 1 million 594 thousand dollars in June.