Turkish Exports to Israel Down 99 Percent in May Following Trade Ban

Ankara announced last month that it was suspending shipments to Israel until Gaza received a ‘sufficient flow' of aid

Exports from Turkiye to Israel nosedived as Ankara enacted a policy to cease all shipments to Israel until Gaza receives enough humanitarian aid, Bloomberg reported on 3 June.

According to preliminary data from TurkStat, annual shipments from Turkiye to Israel plummeted 99 percent to $4.4 million. The official statistics service will issue full trade data for May later on in June.

Turkish exports to Israel for the first five months of 2024 decreased by 40 percent compared to the same period last year.

Ankara announced in early May that it would suspend its trade ties with Tel Aviv until Israel allows sufficient aid into Gaza.

“Export and import transactions related to Israel have been stopped, covering all products,” The Turkish Trade Ministry said in a statement.

The government body added that “Turkey will strictly and decisively implement these new measures until the Israeli Government allows an uninterrupted and sufficient flow of humanitarian aid to Gaza.”

In turn, the Israeli finance ministry announced that they would terminate the free trade agreement with Turkiye and issue a 100 percent tariff on all imports. ,,

Before the war on Gaza began in October, Turkiye and Israel were in the process of normalizing ties following decades of tensions, Bloomberg writes.

Erdogan has been vocally critical of Israel throughout the war, increasing after a defeat in the nation’s local elections to gain support for his party.

Despite the public criticism of Israel by Turkiye, it took Ankara six months to implement its ban on exporting construction materials to Israel.

However, this move was temporarily lifted one month later in May to allow Turkish factories already working with Israel to continue exporting these materials.

Turkiye also decided last month to participate in South Africa’s case at the International Court of Justice (ICJ) that accuses Israel of committing genocide against the Palestinian people while it entered its fifth month.

🔗SOURCE ➡️ The Cradle

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....While Turkey has been towing a middle line, like the Gulf states and India, they have also been teeter-tottering a bit between both axes, a bit like India.

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