February 9, 2015

Turkey-Israel Trade Boom

Despite what some would consider problematic diplomatic relations, Turkish news agency Cihan reveals that the economic ties between the two countries reached a new peak. Economic isolation and boycott of Israel - once more we can see that this is no more than a myth. Read this Cihan report:

Turkey's mutual trade volume with Israel reached over $5.6 billion in 2014, representing a nearly 50 percent rise over 2009 despite lingering diplomatic tension between the two, official figures show.

Data from the Turkish Statistics Institute (TurkStat) shows that mutual trade volume reached $2.6 billion in 2009. Turkish exports to Israel jumped to $2.92 billion in 2014 from $1.5 billion in 2009, while imports from Israel increased to $2.7 billion from $1.1 billion in the same period.