-By Mansi Suryavanshi
INSIGHTS
- The signing of a revised Preferential commerce Agreement (PTA) between Azerbaijan and Turkey has increased optimism for expanding bilateral commerce.
- In five years, Turkiye’s exports of clothing to Azerbaijan surged by almost 150%, and its exports of fabrics also saw significant development.
- Just 0.41% of Turkey’s total apparel exports in 2022 came from Azerbaijan.
A protocol modifying the Preferential commerce Agreement (PTA) between Azerbaijan and Türkiye was signed, demonstrating Azerbaijan’s confidence in the continued expansion of bilateral commerce. Türkiye’s exports of clothing to Azerbaijan have increased significantly over the previous five years, increasing by more than 150%, and its exports of fabrics have also increased significantly. Türkiye is finding increasing success selling its textiles in Azerbaijan. Mikayil Jabbarov, the minister of economics of Azerbaijan, stated in a tweet that “the implementation of the document will give a further impetus for increasing the trade turnover with the brotherly country.”
Türkiye’s exports of clothing and textiles to Azerbaijan have grown significantly in recent years.
Exports increased from $28.286 million in 2018 to $87.620 million in 2021.
Exports did see a dip, though, and only reached $75.186 million in 2022. Compared to commerce in 2018, the outbound exports surged by 167% in 2022.
Exports were reported at $34.701 million in 2019 and $38.890 million in 2020, according to Tex Pro, a market research tool from Fibre2Fashion.
In the last five years, fabric shipments to Azerbaijan have almost quadrupled. Shipments increased from $14.623 million in 2018 to $26.316 million in 2022.
According to information gathered from Tex Pro, exports were valued at $22.224 million in 2021, $18.294 million in 2020, and $18.431 million in 2019.
Azerbaijan is a developing market for Türkiye’s textiles and clothing, but it is still a tiny one. It only made up 0.41% of Türkiye’s $18.449 billion in total garment exports in 2022.
