Surge in Trade Volume Between Turkey and Saudi Arabia

Trade activity between Turkey and Saudi Arabia has regained its upward momentum in 2023 after a slowdown during the COVID-19 pandemic, driven by the momentum in diplomatic relations between the two countries. Burak Daglioglu, head of the Turkish Presidency’s Investment Office, stated that Turkey's exports to Saudi Arabia recorded remarkable growth, increasing by more than 100 percent last year. The official, speaking on the sidelines of the recently held Turkey-Saudi Forum, confirmed that trade exchange between the two nations grew by 10 percent in the past year compared to 2022. According to statements made during the forum by Turkish Vice President Cevdet Yılmaz, the volume of trade between Turkey and Saudi Arabia reached 6.8 billion dollars in 2023, and he sees increasing this figure to over 10 billion dollars in the short term as a realistic goal.