The Turkish economic publication Ekonomim has published an article on the impact of the anti-Israeli sanctions imposed by Ankara on trade with Israel. According to the publication, the director of one of the largest Turkish shipping companies, Mahmut Işık from Medkon, stated that since the introduction of sanctions on April 9, maritime traffic to Israel has decreased by 30%. As 90% of exports from Turkey to Israel are transported by sea, this reduction in maritime traffic translates to a 27% decrease in exports.
Despite this decrease in exports, the publication also noted that some export activity has been redirected through third countries to bypass the sanctions. On April 9, the Turkish Ministry of Economy prohibited the export of 1,019 goods in 54 categories to Israel, mainly focusing on construction materials.
As businesses navigate these challenges and find alternative routes and solutions to maintain trade activity may become essential in the current economic landscape. The impact of these sanctions on trade between Turkey and Israel continues to unfold as businesses struggle to keep up with demand and maintain profitability.
