Economy

Turkey's exports to Venezuela triple in 2018

Exports reach over $120 million in 2018 from $37.4 million in 2017

13.02.2019
Turkey's exports to Venezuela triple in 2018

By Yusuf Sahbaz

IZMIR, Turkey

Turkey's exports to Venezuela tripled in 2018 with a 223-percent rise compared to the previous year.

According to the data compiled by Anadolu Agency based on the Aegean Exporters Association, Turkey’s exports to Venezuela reached $120.8 million in 2018, versus $37.4 million in 2017.

Among the most exported products were pasta ($27.9 million), sunflower oil ($13.6 million), wheat flour ($7.9 million) and red lentil ($5 million).

The close relation between Turkey’s President Recep Tayyip Erdogan and his Venezuelan counterpart Nicolas Maduro had a direct effect on the trade, according to Mustafa Terci, the head of the Aegean Cereals, Pulses, Oil Seeds and Products Exporters Association.

He underlined that the economic problems in Venezuela are the key reasons for its need for food.

"We gave Venezuela a helping hand as we did in the previous years for Qatar, which embargoed by neighboring countries," Terci told Anadolu Agency.

Turkey's exports to Venezuela also rose by 411 percent to reach $8.96 million in January 2019, versus the same month of 2018, he said.

Turkey can reach $200 million in exports to Venezuela in 2019, Terci added.

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