The Impact of the Russia-Ukraine War on Türkiye's Foreign Trade

Abstract

This article analyzes the impact of Russia’s February 24, 2022 invasion of Ukraine and the ongoing war on Türkiye’s foreign trade. Türkiye’s shared maritime borders with Russia and Ukraine in the Black Sea and Russia accounting for a significant percent of Türkiye’s foreign trade renders the conflict all the more important for Ankara. Accordingly, this article compares the import-export data from 2022, after the war erupted, with the relevant figures over the last decade. Furthermore, the effect of the Russia-Ukraine war on the tourism and contracting sectors, which make the most positive contribution to Türkiye’s current account deficit and are at the forefront of the locomotive sectors, is also discussed.