Saudi embargo nearly halves Turkey's ready-to-wear exports
Saudi Arabia's embargo on Turkish goods has resulted in a nearly 50-percent shrink in Turkey's ready-to-wear clothing exports, daily Dünya reported on Nov. 16. Meanwhile, the Saudi food administration said that they would stop imports from Turkey as of Nov. 15.
The Saudi Arabian embargo on Turkish goods resulted in a dramatic 48.7 percent contraction in Turkey's exports of ready-to-wear textiles, daily Dünya reported on Nov. 16.
The Saudi Food and Drug Administration (SFDA) said in a recent statement that the country would cease imports of meat, dairy products and honey as of Nov. 15.
"Stores are trying to stay atop existing stock. Shops may need to close down if the embargo isn't resolved," said Mustafa Gültepe, representative of Istanbul's textile exporters association (İHKİB).
Gültepe hopes that Turkey will bump its exports back up to reach 2019's $17.7 billion balance, as European countries are seeking to relocate manufacturers closer are looking to Turkey.
Saudi Arabia and Turkey have been at odds for some years over foreign policy and attitudes towards Islamist political groups. The murder of Saudi journalist Jamal Khashoggi in the Saudi consulate in Istanbul in 2018 sharply escalated tensions.
The boycotts, which began in Saudi Arabia and spread to Morocco and the United Arab Emirates, are severely impacting Turkish businesses, prompting Turkey's leading business groups to urge Riyadh to take action to solve trade problems.