Economy

Turkish-Austrian trade volume in 2020 hit $4.6B

Last year Turkey had over $725M surplus in trade with Austria, says Vienna's ambassador to Turkey

Behlul Cetinkaya   | 26.02.2021
Turkish-Austrian trade volume in 2020 hit $4.6B

ANKARA

Last year's trade volume between Turkey and Austria reached almost €3.8 billion ($4.6 billion), said Vienna's ambassador to Ankara on Friday.

Johannes Wimmer told Anadolu Agency that the trade between the countries did not saw a significant decline despite the pandemic, adding that Austria's exports to Turkey last year rose 5.6%.

"Turkey's exports to Austria dropped 3.3%, which is a very good rate compared to the decrease in exports from other countries to Austria. However, in 2020 Turkey posted a surplus of over $727 million in trade with Austria."

The two countries' commercial relations were not greatly affected by the pandemic, and there is a potential for further development with normalization, he said.

Pointing to Turkey's geographical position, the ambassador stressed that Turkey is a bridge to the Middle East, Central Asia, and African markets with the developed flight network to these regions.

Saying that some Austrian companies produce in Turkey and sell to third countries, he noted: "Additionally, there are many Austrian companies bringing know-how from Austria to Turkey. Austrian organizations also employ 12,000 people in Turkey."

Austrian companies investing in Turkey know that it means entering an important market, as Turkey is an export base for the region, Wimmer added.


*Writing by Yunus Girgin in Ankara

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