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Israel-Turkey trade soars despite tensions

Bilateral trade between Israel and Turkey rose 30 percent in the first eight months of 2011 compared to the corresponding period last year, even as relations between the two countries continued to worsen.
The figures do not take into account Turkish Prime Minister Recep Tayyip Erdogan’s decision to suspend military and defense trade ties with Israel, as that announcement was only made in the first week of September. According to the Israel Export Institute, total trade between the two countries reached $2.8 billion between January and August, making Turkey Israel’s seventh-largest trade partner in that period. This continues the upward trend seen in 2010, when bilateral trade rose 26% for the year to a total of $3.1 million.
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