DJIBOUTI-TURKIYE ECONOMIC AND TRADE RELATIONS (2003-2022)

Authors : Sadak MOHAMUD HASSAN

Pages : 26-36

View : 94 | Download : 464

Publication Date : 2023-08-01

Article Type : Research Paper

Abstract :This article offers a comprehensive analysis of the economic and trade relations between Djibouti and Turkiye from 2003 to 2022, utilizing data from various reputable sources such as the World Bank, World Integrated Trade Solution insert ignore into journalissuearticles values(WITS);, Observatory of Economic Complexity insert ignore into journalissuearticles values(OEC);, and Trading Economics databases. Despite their longstanding economic ties, the partnership between the two countries has gained considerable momentum in recent years. The study examines the upsurge in bilateral trade between Djibouti and Turkiye, with a particular emphasis on the primary products exchanged between the two nations. Our findings demonstrate that Djibouti has consistently experienced a negative trade balance with Turkiye throughout the period under review, which indicates a higher import volume from Turkiye than export. Specifically, the trade deficit was 2022 when Djibouti\`s imports from Turkiye surpassed its exports by over $548 billion, respectively. Nonetheless, despite the persistent trade deficit, Djibouti\`s exports to Turkiye have been on the rise in recent years, with a noteworthy increase observed in 2021 and 2022. This suggests that Djibouti may be diversifying its export markets and seeking alternative destinations for its products, including those beyond its traditional trade partners.
Keywords : Economic relations, Trade relations, Djibouti, Turkiye