In the first 11 months of the year, exports in Turkey rose by 1.8 percent to $ 165 billion
Turkish Exporters Assembly (TIM), announced the provisional foreign trade data for November with the participation of Minister of Trade Ruhsar Pekcan.
Exports in November were $ 16 billion 214 million according to the Generalized Trade System (GTS). In the first 11 months of the year, exports increased by 1.8 percent to 165 billion dollars, annualized exports reached 180 billion dollars.
Stating that the recession in global trade affects all countries and caused a significant loss of momentum in global growth, TIM Chairman İsmail Gülle continued his words as follows:
“The export performance of our country stands out with its success compared to Turkey’s competitors and target markets. Among the countries that announced their export data for the first 9 months of 2019, South Korea’s exports decreased by 9.8 percent, in the United Kingdom, the decrease is 6.5 percent, world’s leading exporter China’s exports fell by 0.1 percent. Turkey, on the other hand, achieved an increase rate of 2.6 percent in the first 9 months. With the dynamism of our exporters, our position in the global arena will improve and will continue to move forward.
While the global agenda is busy with the trade wars, terrorism, street protests and instability, we are embarking Turkey by connecting Asia and Europe. Turkey, is following a versatile, powerful and balanced policy in line with the interests of all actors in its region. We see this clearly in our trade agreements, energy agreements, investments and policies. With China’s ‘Belt and Road Project’, the Middle Corridor in which Turkey is located, will be one of the most strategic locations.”
In November 1545 companies joined the Export Family
Referring to the details of November exports, the TIM Chairman said: “I am pleased to announce that 1.545 companies joined our export family in November. When we look at the total number, in November 40,677 companies exported their products to the world.”
Automotive sector maintained its leadership
The leading sector of November was automotive with exports worth $ 2.7 billion. Automotive was followed by Chemicals with $ 1.8 billion and Garments with $ 1.5 billion in exports. 9 sectors displayed a successful performance with an increase above 10 percent. The strongest performers of November were Ship and Yacht, which increased their exports by 447 percent, Defense and Aviation with a 57 percent increase and Hazelnut, which reached $ 265 million with an increase of 48 percent.
Exports to 105 countries increased
In November, Turkey exported to 210 countries and regions. Exports to 105 of these countries increased, while the increase in 70 countries was above 10 percent, and in 32 countries it was over 50 percent. The top three export destinations of Turkey were: Germany with $ 1.5 billion, Iraq with $ 1.1 billion and the United Kingdom with $ 948 million. While the share of the top 10 countries in exports was 48.4 percent, it was 66.4 percent for the first 20 countries. The share of the European Union in Turkey’s exports was 47.5 percent in November.
In terms of quantity, exports reached 13 million tons with an increase of 6.8 percent in November and 134 million tons with an increase of 16.5 percent during the first 11 months of 2019.
Lastly, the negative impact of the EUR-USD parity in November was 193 million dollars, while the negative impact of the parity in the first 11 months of the year was 4.4 billion dollars.
Source: Turkish Exporters Assembly / link: https://www.tim.org.tr/en/press-room-news-turkeys-exports-exceeded-165-billion-in-the-first-11-months-of-2019.html
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
