Turkey’s exports exceed $16 billion in September

Turkey’s exports continued their upward trend and increased by 4.8% year-on-year in September, surpassing $16 billion (TL 124 billion) and setting an all-time monthly high, Trade Minister Ruhsar Pekcan announced Friday (October 2).

“We have not only achieved success for September and 2020, but we have also achieved the highest September export figure to date,” Pekcan said.

The country’s exports were up 28.5% compared to August, Pekcan said.

They totaled some $12.5 billion in the month amid weak external demand in the European Union and disruption in the automotive sector due to the coronavirus pandemic.

“The export figures confirm that the recovery from the pandemic impact and normalization process continues successfully,” Pekcan noted.

“(Exports) offer positive signals in terms of V-shaped recovery of our economy and third-quarter growth," she said.

Excluding gold, the export-import coverage ratio reached 90.9% in September, Pekcan added.

"The purchase and sale of gold should be evaluated differently from goods trade," the minister said, noting: “Through gold imports, gold – which has a capital value – is brought to the country in exchange for foreign currency.”

Pekcan highlighted that the number of Turkish exporters increased by 6.8% year-on-year in September.

Based on DS

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