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In the January-May period of this year, Turkey's steel product exports to the United Arab Emirates rose 7.74 percent year on year, reaching 897,308 metric tons, according to the data provided by the Istanbul Mineral and Metals Exporters' Association (IMMIB). The revenue generated by these exports came to $493.51 million, increasing by 39.34 percent as compared to the corresponding period of 2009.
 
However, as compared to the first five months of 2008, Turkey's steel product exports to the UAE regressed by 63.44 percent in volume and 73.44 percent in revenue. Steel product exports to the UAE accounted for a 12.91 percent of Turkey's total steel product exports in the January-May period this year, up from the 10.23 percent share recorded in the first five months of 2009, but significantly down from the 29.4 percent in the corresponding period of 2008.
 
In the first five months of this year, Turkey's leading exported steel product to the UAE was steel bars, including rebars, with a volume of 561,876 metric tons, down 19.46 percent, followed by steel billet with an export volume reaching 272,889 metric tons, two times higher as compared to the year-ago period.
 
In the period in question, steel bar exports accounted for 63 percent of Turkey's total steel product exports to the UAE, while steel billet constituted 30.41 percent of the total exports.
 
Meanwhile in the given period, Turkey's flat steel product exports to the country in question rose from 1,045 metric tons to 6,080 metric tons.