Türkiye continues to break record after record in exports

Despite the contraction in global economies, Türkiye continues to break record after record in exports. Announced yesterday, Türkiye's August exports increased by 8.1 percent annually, reaching 23.5 billion dollars, and were recorded as the highest August figure. Annualized exports reached the highest level in the history of the Republic with 280.3 billion dollars. Minister of Commerce Ömer Bolat said, "In the January-August period, our exports broke a record with 185 billion dollars, and our annualized exports in August were the highest in the history of our Republic with 280.3 billion dollars." Stating that the Turkish economy has accelerated since the second quarter of the year and that this is seen in many macroeconomic data, especially exports, Bolat reminded that the country reached 2.3 percent growth in the second quarter and 2.5 percent growth in the first half of the year.

COUNTDOWN TO GOAL

Providing information about August export figures, Bolat said: "This is the third highest increase rate after the 21 percent increase in April and the 22 percent increase in June. Although August is described as a holiday month in the West, this increase is truly a great success." Emphasizing that the target expected to be achieved in exports this year is 282 billion dollars and that only 1.7 billion dollars remain to achieve this target, Bolat stated that the increase in the value of exports in the last year was 11 billion 235 million dollars. Bolat added that with the influence of geopolitical developments, Türkiye has become a more important transit point for the region and the needs of the Gulf can be met.

ORDERS ARE RETURNING

Minister Bolat stated that Türkiye's annual exports of medium, high and high technology products increased to 116 billion dollars, and that this constituted 43.5 percent of total foreign sales. Stating that there was an increase in exports in 17 of 27 sectors both in August and in the first 8 months of the year, Bolat said, "Ready-made clothing and apparel are a very important sector of ours. There, too, the decreasing trend gradually decreased. This year, we will break even or break even in ready-made clothing by the end of the year. Because orders have started to return to Türkiye. We are already in a surplus in textile as of the first 8 months." Bolat said that the performance is also improving in leather and shoes, which are labor-intensive sectors, and that Türkiye is currently improving in electricity, electronics, machinery, iron and steel, cement, defense and aviation industry, air conditioning, mining, fresh fruits and vegetables, dried fruits and aquatic products.

DECLINE IN MOTOR VEHICLES

BOLAT said that the products whose imports decreased the most in the January-August period were motor vehicles with approximately 4 billion dollars, precious and semi-precious stones with 3.1 billion dollars, cocoa with 500 million dollars, air and space vehicles with 347 million dollars, textiles and yarn with 180 million dollars. Pointing out that the products with the highest increase in imports in this period were mineral fuels with 4.3 billion dollars, electrical machinery and equipment with 2.6 billion dollars, Bolat stated that this was followed by copper and copper goods with 1.5 billion dollars, boilers and machinery with 1.1 billion dollars, and pharmaceutical products, respectively.

GERMANY IS IN THE FIRST PLACE

TURKISH Exporters Assembly (TİM) President Mustafa Gültepe reported that 874 companies exported for the first time last month and the contribution of these companies to exports approached 83 million dollars. Stating that the economy has grown uninterruptedly for 24 quarters, Gültepe said, "Our first three sectors with the highest increase in exports were jewellery, electrical-electronics and iron/non-ferrous metals. Last month, 43 of our provinces increased their exports, the 3 countries we exported the most to were Germany, the USA and the United Kingdom. 874 of our companies exported for the first time, and the contribution of these companies to our exports approached 83 million dollars."