A Large Saudi Demand for Importing Furniture from Turkey
After a break of several years between the two countries, relations between Turkey and Saudi Arabia have returned, in conjunction with a large Saudi demand for importing goods from various commercial sectors in Turkey, recording large figures in the value of Turkey's furniture exports to Saudi Arabia.
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Significant Rise in Saudi Purchases of Turkish Furniture
After the return of normal relations between Saudi Arabia and Turkey, which left behind many years of tension, trade between the two countries witnessed a remarkable movement, during which a strong return of Turkish exports to Saudi Arabia and a large Saudi demand for importing goods from various commercial sectors in Turkey emerged.
The furniture sector has emerged as one of the most popular sectors among Saudi Arabian traders, with official statistics recording a significant rise in Saudi purchases during this year.
Export Figures are Steadily Increasing
According to statistical reports related to the furniture sector, the sector exceeded last year's revenue from its exports to Saudi Arabia during the first ten months of this year, with the volume of exports reaching $6 million during the eighth and ninth months of 2022.
Experts and industry representatives expect the volume of exports to reach $35 million by the end of this year, and export earnings will range from $150 million to $200 million during 2023.
Saudi Market on the Way Back to Fifth Place
On a related note, Mr Arkan Ozkan, President of the Union of Exporters of Furniture and Paper Products in Istanbul, said:
“We have achieved good figures in exports to Saudi Arabia this year, with an increase in exports of 57% compared to last year's exports, and as this momentum in trade relations continues, we expect the Saudi market to return to fifth place as the largest importer of Turkish furniture.”
“Our exports of furniture to this market amounted to $210 million during the first ten months of this year, and we are enhancing trade exchange by increasing production and stimulating exports, and if things go as we hope, Turkey's exports of furniture to Saudi Arabia will reach about $150-200 million by the end of next year,” he added.
Edited by Tebadul International Trade
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