Turkiye’s shipments to Israel dipped 99 per cent to $4.4 million in May 2024 from $277.3 million in April 2024, media reports said quoting the Turkish Exporters Assembly (TIM) data. Total exports from January to May 2024 plunged 40 per cent to $1.4 billion. Last year, total bilateral trade was noted at $6.2 billion, a decline of 23 per cent year-over-year. After the suspension of bilateral trade, importers from Israel are struggling to find alternative suppliers of various merchandise.
According to Fibre2Fashion's market insight tool TexPro, Turkiye’s apparel exports declined to $71.007 million in January-March 2024 from $127.130 million in the corresponding period of the previous year. It dipped to $79.109 million in Q2 2023, $60.149 million in Q3 2023, and $44.810 million in Q4 2023. However, it improved to $71.007 million in the first quarter of the current year.
Monthly trade data also indicates an improvement in apparel exports to Israel in January-March 2024. Turkiye had exported apparel worth $12.436 million in January, $24.368 million in February, and $34.202 million in March this year.
Annually, shipments dipped to $311.198 million in 2023 from $465.575 million in 2022. Trade was hit and decreased to $316.465 million in 2020 from $346.656 million in 2019. However, it recovered to $463.806 million in 2021 and $465.575 million in 2022, as per TexPro.
Fibre2Fashion News Desk (KUL)