Turkey’s exports posted an all-time high of 17.3 billion in October, the nation’s trade minister announced on Monday (November 2), as the trade continued its recovery from the fallout of the coronavirus pandemic, DS reported.
Exports were up 5.6% year-on-year in the month, Ruhsar Pekcan said.
Imports, on the other hand, saw an 8.5% year-on-year increase to around $19.73 billion, the official data showed. Around 87.8% of imports consisted of raw materials and investment goods, Pekcan said.
“October exports are confirmation that Turkey will be among the fastest-recovering countries and that will overcome the overcome the pandemic with the least possible damage,” the minister stressed.
“As Turkey, we are maintaining our export capacity and move forward with strong steps in line with our goals with new records,” Pekcan added.
Exports were also up from a noteworthy $16 billion in September, when foreign sales also surged by 4.8% year-on-year and 28.5% month-on-month.
The overall trade volume in October reached over $37 billion, Pekcan said.
According to the minister, the exports-to-imports coverage ratio surged to 87.9%, the highest level seen in 2020 so far.