Turkey’s Anti-Israel Sanctions Cripple Trade Between the Two Countries, Leaving Some Exporters in Search of Alternative Solutions
The impact of Ankara’s anti-Israeli sanctions on trade with Israel has been highlighted in data published by Turkish economic publication Ekonomim. According to the publication, the director of one of the largest Turkish shipping companies, Mahmut Işık (Medkon), stated that since the sanctions were introduced on April 9, the volume of maritime traffic to Israel has decreased by 30%. This reduction in maritime traffic has led to a 27% decrease in exports from Turkey to Israel, as 90% of exports to Israel come by sea.
On April 9, the Turkish Ministry of Economy banned the export of 1,019 goods in 54 categories to Israel, primarily related to construction materials. This move has had a significant impact on trade between Turkey and Israel, as evidenced by the decrease in maritime traffic and export volumes. Despite these challenges, some exporters have found ways to circumvent the sanctions by rerouting their exports through third countries.
The ongoing economic implications of these anti-Israeli sanctions continue to affect Turkish businesses and trade relationships with other countries. As the situation evolves, it will be important for businesses to adapt to the changing trade landscape and find alternative solutions to maintain their global market presence.
