Turkmenistan-EU Trade Soars, Exceeding €1.5 Billion in 2023

BUSINESS TURKMENISTAN
Turkmenistan-EU Trade Soars, Exceeding €1.5 Billion in 2023
Port of Antwerp, Antwerp, Belgium. (Photo: Euronews)

Trade turnover between Turkmenistan and European Union (EU) countries soared beyond €1.5 billion in the period from January to October 2023, as reported by TurkicWorld last Wednesday.

This impressive figure represents an 84 percent increase compared to the same period in 2022, which recorded a trade turnover of €816.85 million.

Notably, the EU substantially increased its import of Turkmen products, reaching nearly €962.4 million in the specified timeframe. This marks a notable surge, indicating a 2.9 times increase compared to the corresponding period in 2022, where imports amounted to €323.11 million.

Concurrently, EU exports to Turkmenistan also experienced growth, witnessing a 10 percent increase from January to October 2022. The total value of EU exports to Turkmenistan in the specified period reached €543.3 million.

The cumulative trade turnover between Turkmenistan and EU countries for the period from January to May 2023 further emphasizes the robust nature of their economic ties, exceeding €494.6 million.

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