Turkey's exports to Libya jumped 58% in January-April

Turkey's exports to Libya rose 58% year-on-year in the first four months of 2021 to $826 million, said a top Turkish trade group on May 15. 

While Turkey's overall exports were up 33.1% this January-April, this increase in Libya reached 58%, almost double the general average, said Murtaza Karanfil, chairman of the Turkey-Libya Council of the Foreign Economic Relations Board of Turkey (DEIK).

In April alone, Karanfil told Anadolu Agency that exports to Libya skyrocketed 228% to $263.3 million compared to the same period last year, showing that strong bilateral ties are clearly being reflected in trade.

"We know that the Turkish private sector is enthusiastic about completing missing projects and taking part in new projects in Libya," he said, referring to work that had to be abandoned due years of turmoil in the North African country.

Libya has needs that have accumulated especially due to the situation over the last 10 years - since the fall of Muammar Gaddafi and the ensuing chaos - and need to be resolved quickly, he stressed.

With an interim government formed under a February peace deal, Libya has recently emerged from years of conflict to move towards elections this December.

Turkish advantage

"Our Turkish contractors have important duties in terms of both the infrastructure and superstructure for the rebuilding of the country," said Karanfil.

Areas, where Turkish investors could play a larger role in Libya in the coming years, include energy, defense industry, food, recycling, and chemicals.

Although the country has a population of 6 million, a lot of products enter its market, and annual exports of $10 billion annually, if the infrastructure is established, is no dream, Karanfil...