Experts to Al-Sharq al-Awsat: Turkey’s losses estimated at $20 billion due to popular boycott across Arab world

RIYADH — Turkey has suffered an estimated $20 billion in losses due to the popular boycott of its goods in the Arab region, economists told Saudi media outlet Al-Sharq al-Awsat.

Al-Awsat quoted specialists in the Saudi private sector who commented that in it has been relatively easy for Saudi business to obtain alternatives to Turkish products. Many of the alternatives are produced by local manufactures, especially foodstuffs, building materials, and consumer goods.

Dr. Louay al-Tayyar, a business specialist, told al-Awsat that, “The suspension of imports from Turkey directly affects the Turkish economy, because the Saudi market for Turkish products is the largest in various sectors including clothing, furnishings, and other products, and these losses will place a heavy burden on Turkish political leaders in the face of the local community.”

Arab countries including Saudi Arabia, Egypt, the United Arab Emirates, Morocco, and Libya have seen popular boycotts of Turkish products following a call by Saudi Chamber of Commerce President Ajlan al-Ajlan in October to boycott Turkish goods in response to, “continued hostility from the Turkish government against the Kingdom’s leadership and citizens.”