Bayrak

Problems in the Red Sea are estimated to cost an additional $2 billion to Türkiye as personnel costs and prices of certain goods, especially electronic goods, are rising due to the Houthi attacks on ships in the waterway, according to the business associations.

The attacks on commercial ships in the Red Sea by Yemen's Houthi rebels have rerouted a majority of global trade away from the crucial maritime artery for goods and supplies that are likely to impact Turkish consumers through rising prices.

The head of the Boat and Yacht Exporters Association (GY?B) has said the regional uncertainties in Turkey's neighbors have negatively affected the country's boat and yacht exports, adding that a further decline is expected in figures this year. 

GY?B President Ba?aran Bayrak noted that Turkey's exports in this field decreased 19 percent in 2015 compared to the previous year. 

Turkish shipyards have focused on finding new export markets as the country?s ship and yacht exports declined due to the problems in neighboring hot markets, according to sector representatives, as reported by daily Dünya.