Feb 5, 2023
Turkey's exports hit $12.5B in August
Turkey's exports totaled $12.5 billion in August, down 5.7% from the same month last year, the Trade Ministry announced Wednesday.
The country's imports grew 20.6% to $18.8 billion in the same period, the ministry's preliminary data showed.
This August, the export-import coverage ratio was 66.4%, compared to 85% in August 2019.
Elaborating on the data, Turkish Exporters’ Assembly (TIM) chairperson Ismail Gülle said eight industries had posted their highest exports ever in August, while 17 out of 27 sectors have seen a rise in their foreign sales.
Gülle also noted that they have observed a gradual recovery in the export figures to some European countries.
He said exports to the US had increased by $64.2 million compared to August 2019, while sales to Belgium and Israel were up $59.3 million and $35.7 million.
The ready-to-wear industry exports led the way in August, followed by automotive and chemicals, the TIM head said, citing the disruptions in the global supply chain due to the coronavirus pandemic.
Commenting on figures Trade Minister Ruhsar Pekcan said the decrease in exports stemmed from weak external demand in the EU and disruption in the automotive sector last month due to the coronavirus pandemic.
"We believe that our foreign trade will gain strong momentum in the coming period thanks to the measures we have taken and the effective policies we implemented, and the normalization in our main export markets, especially in the EU," Pekcan wrote on Twitter.
She noted that Turkey will continue its efforts for product and market diversification and enhancing the competitiveness of exporters.
Based on AA, DS
The country's imports grew 20.6% to $18.8 billion in the same period, the ministry's preliminary data showed.
This August, the export-import coverage ratio was 66.4%, compared to 85% in August 2019.
Elaborating on the data, Turkish Exporters’ Assembly (TIM) chairperson Ismail Gülle said eight industries had posted their highest exports ever in August, while 17 out of 27 sectors have seen a rise in their foreign sales.
Gülle also noted that they have observed a gradual recovery in the export figures to some European countries.
He said exports to the US had increased by $64.2 million compared to August 2019, while sales to Belgium and Israel were up $59.3 million and $35.7 million.
The ready-to-wear industry exports led the way in August, followed by automotive and chemicals, the TIM head said, citing the disruptions in the global supply chain due to the coronavirus pandemic.
Commenting on figures Trade Minister Ruhsar Pekcan said the decrease in exports stemmed from weak external demand in the EU and disruption in the automotive sector last month due to the coronavirus pandemic.
"We believe that our foreign trade will gain strong momentum in the coming period thanks to the measures we have taken and the effective policies we implemented, and the normalization in our main export markets, especially in the EU," Pekcan wrote on Twitter.
She noted that Turkey will continue its efforts for product and market diversification and enhancing the competitiveness of exporters.
Based on AA, DS
