Turkey Agricultural Exports Hits 1.6% YoY Increase In 2023 Despite Devastating Earthquakes

News in brief: Despite facing a devastating earthquake earlier this year, Turkey agriculture sector has shown resilience with agricultural exports reaching $11.2 billion in the first four months of 2023, accounting for 13.8% of the country's total exports.

Turkey has been in the news earlier this year for a devastating earthquake that claimed about 50,000 lives in February. However, the country's agriculture sector appears to have remained resilient.

According to a report by Daily Sabah, a Turkish pro-government daily newspaper, the nation exported agricultural products worth $11.2 billion between the first four months of 2023. The sector accounted for 13.8% of Turkey's total exports for the period.

While the total export sector dropped by 3%, the agric sector export was up by 1.6% when compared to the same period the previous year. This achievement is impressive because the earthquake struck Turkey's most fertile region which is responsible for 15% of its agricultural agricultural gross domestic product (GDP).

In addition, the structural damage from the earthquake was expected to slow down all sectors. A Food and Agriculture Organization (FAO) assessment estimated that the disaster had caused $5.1 billion in agricultural losses through infrastructure destruction, livestock death and crops damage. Also, the country has had to navigate the international supply problems caused by political instability of some regions.

Olive sales went through the roof!

Fresh fruit sales were up by 20.9% while it sold 161% more olive and olive oil, and there was a 7.4% increase in grain, legumes, oilseeds and their products sales.

Iraq was Turkey's biggest customer during the period, as stats from the Turkish Exporters Assembly (TIM) showed. It bought $660.6 million worth of grain, legumes, oilseeds and their products. Russia imported $316.5 million worth of olive and olive oil as well.

The World Bank says that Turkey is still the 19th largest economy in the world, no doubt thanks to its agricultural sector, which contributes over 6% to its GDP, holding strong.