382

Turkey Halts All Trade With Israel Over War in Gaza (www.bloomberg.com)

submitted 1 year ago by Alsephina@lemmy.ml to c/worldnews@lemmy.ml

27 comments fedilink hide all child comments

Trade between the two countries was worth $6.8 billion in 2023

Turkey stopped all trade with Israel as of Thursday, according to two Turkish officials familiar with the matter, adding to already high-running tensions between the once-close allies over the war in Gaza.

The move expands last month’s restriction on some Turkish exports to Israel, as President Recep Tayyip Erdogan steps up criticism of the Jewish state and tries to consolidate support among conservative voters at home.

Ankara hasn’t formally announced the suspension and it wasn’t clear under what conditions trade would resume. Trade between the countries was worth $6.8 billion in 2023, of which 76% was Turkish exports, according to the Turkish statistical institute.

The move came a day after Turkey announced plans to join South Africa’s case at the United Nations’ highest court as a plaintiff accusing Israel of committing genocide in the Palestinian territory.

Erdogan hosted Hamas’s political leader in Istanbul on April 20, calling for immediate aid to Gaza.

Archive link

you are viewing a single comment's thread
view the rest of the comments

[-] ArbitraryValue@sh.itjust.works 0 points 1 year ago* (last edited 1 year ago)

If I recall correctly, when trade is considered to be zero-sum, the net exporter gains and the net importer loses. Therefore if what's bad for Israel is what's good for Turkey and vice versa, this is worse for Turkey.

Maybe I'm wrong - I wasn't very good at macroeconomics.

[-] queermunist@lemmy.ml 10 points 1 year ago

It sounds like you are under the impression that imports are bad for the economy.

[-] PanArab@lemmy.ml 5 points 1 year ago

Turkiye when measured by GDP PPP is 8x as big as the usurper entity. Turkiye will be fine, it is the settlers who are becoming more isolated in the region.