How much has the unofficial boycott of Saudi Arabia affected Turkey’s marble exports?
Despite efforts to restore strained relations between Ankara and Riyadh, the months-long informal boycott continues. According to the recently published statistics of the 2nd trimester of 2021, the exports of Turkish products to Saudi Arabia have almost reduced to zero. Specifically, we report that between the 1st trimester of 2019 – 2nd trimester of 2021 the decline in total exports reaches 95%, recording a record low.
Exports of finished marble products in the 2nd trimester of 2021 have literally stopped. In the chart below we see the value of Turkish exports to Saudi Arabia between 1st trimester 2019 – 2nd trimester 2021.
The graph shows the heavy blow of the boycott on exports. Typically we mention that in the 1st trimester of 2019 the share of Saudi Arabia, on the total exports of finished marble products of Turkey, was about 14.5% while in the 2nd trimester of 2021 the share was 0.03%.
However, Turkish marble companies were able to cover the losses in a short period of time by increasing exports to other destinations. Detailed information will be published in the next article.
*The statistics are derived from the analysis of the Tariff Class Codes – Harmonized System (HS) Codes:
680221: Marble, travertine and alabaster articles thereof, simply cut or sawn, with a flat or even surface (excluding with a completely or partly planed, sand-dressed, coarsely or finely ground or polished surface, tiles, cubes and similar articles of subheading 6802.10, setts, curbstones and flagstones).
680291: Marble, travertine and alabaster, in any form (excluding tiles, cubes and similar articles of subheading 6802.10, imitation jewelery, clocks, lamps and lighting fittings and parts thereof, buttons, original sculptures and statuary, setts, curbstones and flagstones).
*Due to consistent data flow, statistics may alter during the year
For more statistics contact [email protected]