Türkiye’s exports to Israel came to a standstill in May, after the country’s government suspended all trade with the Jewish state in response to IDF operations in Gaza, Bloomberg reported on Monday.
According to the outlet, citing preliminary data from Türkiye’s main exporters association, shipments to Israel plummeted 99% on an annual basis in May, to $4.4 million.
Data showed that Turkish exports to Israel in the first five months of 2024 have decreased by 40% compared to the same period last year. Total 2023 trade volume was $6.8 billion, with Turkish exports accounting for 76% of this sum, according to the Israeli Ministry of Economy.
Türkiye has been one of Israel’s fiercest critics since the current conflict with Hamas broke out in October.
Last month, the Turkish Trade Ministry announced that trade ties would be paused until Israel allows “uninterrupted and sufficient flow” of humanitarian aid to Gaza. The total suspension followed restrictions imposed by Ankara on exports to Israel of 54 product categories, including construction materials, machinery, and various chemical products. Türkiye had previously stopped sending Israel any goods that could be used for military purposes.
According to the Turkish Statistical Institute, Israel was Türkiye’s 13th biggest export partner in 2023. Ankara’s main exports to the Jewish state included steel, construction materials, mechanical devices, oil and agri-food products.
TurkStat will reportedly publish full trade data for last month, including imports, later in June.
Turkish President Recep Tayyip Erdogan has repeatedly compared Israeli Prime Minister Benjamin Netanyahu to Adolf Hitler. In April, he accused Israel of outdoing the Nazi leader by killing 14,000 children in Gaza.
Last week, Erdogan called on the Islamic world to make a “common decision” to oppose Israel, calling the Jewish state a threat to “all of humanity.”
Israel, meanwhile, has claimed that the Turkish president ranks among the worst anti-Semites in history, due to his stance on the conflict and his support for Hamas.
Israel declared war on Hamas in October in response to a deadly raid staged by the militant group, in which at least 1,200 people were killed and more than 200 taken hostage. The retaliatory bombing and ground operation in Gaza has caused the deaths of more than 36,000 Palestinians, according to the territory’s health ministry.