Turkiye's apparel exports to Azerbaijan jump to $145 mn in 2023

06 Mar '24

2 min read

Pic: Adobe Stock

Insights

In 2023, Turkiye's apparel exports fell by 7.32 per cent, but its exports to Azerbaijan doubled, reaching $145.520 million, 0.86 per cent of total apparel exports valued at $16.831 billion.
Shipments to Azerbaijan rose by 93.55 per cent from $75.186 million in 2022.
The trade grew consistently since 2018, reaching $59.067 million in Q4 2023.

In 2023, Turkiye's apparel exports faced a 7.32 per cent decline; nonetheless, its shipments to Azerbaijan witnessed a substantial increase, nearly doubling in comparison. Turkiye's apparel exports to Azerbaijan amounted to $145.520 million in 2023, representing 0.86 per cent of its total apparel exports, which stood at $16.831 billion during the same period.

Shipments to Azerbaijan increased by 93.55 per cent from $75.186 million in 2022. The trade has experienced consistent growth since 2018 when it was noted at $28.286 million, according to Fibre2Fashion's market insight tool TexPro.

Turkiye’s exports to Azerbaijan increased to $34.710 million in 2019, defying the global downward trend in 2020 and further rising to $38.890 million. They then jumped by 125.3 per cent to reach $87.620 million in 2021. However, the trend reversed, and trade eased by 14.19 per cent to $75.186 million in 2022 before noticing a steep rise in 2023.

In the final quarter of 2023, Turkiye's apparel exports to Azerbaijan amounted to $59.067 million, contributing 1.49 per cent to Turkiye's total apparel exports, which amounted to $3.964 billion during the same quarter. Notably, there was a significant surge in shipments during this quarter, representing a remarkable 139.1 per cent increase from the $24.703 million recorded in October-December 2022. During the third quarter of the same year, the trade stood at $32.643 million, as per TexPro.

Fibre2Fashion News Desk (KUL)

This according to Fibre2Fashion's Market Intelligence Tool - TexPro