Turkey increases steel export to Russia

By Trend

Export of steel from Turkey to Russia grew by 23.52 percent from January through July 2020 compared to the same period in 2019, having reached $49.7 million, Turkey’s Ministry of Trade told Trend.

In July 2020, steel exports from Turkey to Russia increased by 98.96 percent compared to July 2019, and amounted $12.7 million.

Export of steel from Turkey to world markets dropped by 16.4 percent in the first 7 months of 2020 compared to the same period of 2019 and amounted to $12.7 billion.

According to the ministry, the overall export of steel from Turkey made up 7.8 percent of the country's total export over the reporting period.

In July 2020, Turkey exported $1 million worth of steel abroad, which is 15.4 percent less compared to the same month of 2019, the ministry noted.

Turkey’s steel export for May 2020 amounted to 7 percent of the country's total export.

From July 2019 through July 2020, Turkey exported the steel in the amount of over $12.5 billion to foreign markets.