Turkey’s exports continue to surge

ISTANBUL - Hürriyet Daily News

Turkey’s exports has reached to $11 billion in January by a 5.6 percent increase from a year earlier, the Turkish Exporters Assembly says. AA Photo

Turkish exports have surged to $11 billion, rising 5.6 percent in January compared to the same month last year, with the automotive sector taking the top spot at $1.5 billion in export volume despite its previous troubles, according to data released by the Turkish Exporters Assembly on Feb. 01.

“With this kick-off, 2013 will be a record-breaking year as well,” Economy Minister Zafer Çağlayan said yesterday, noting the $134.6 billion record Turkey’s exports set in 2011.

There are only 27 countries in the world that posted export figures higher than $100 billion in size, and as one of them, Turkey aims to reach $500 billion in exports this year, triple the current amount, he said.

Of Turkey’s total exports in January, $1.5 billion went to Germany, $884 million to Iraq, $651 million to the United Kingdom, $546 million to Russia and $546 million to Italy. Turkey also sent a significant number of exports to China, South Africa and Libya, with 34, 279 and 59 percent increases, respectively.

The automotive sector posted the highest January figures at $1.5 billion, but sector
exports fell 5.7 percent compared to the same month last year. The retail and garment industry followed with a 12 percent increase from last year bringing their export levels to $1.4 billion.

In terms of increase, the olive and olive oil products sector soared to $44.8 million, a 200 percent rise.

Turkey’s import and export data for 2012 was released Jan. 31 by Turkey’s Statistics Institution, showing that Turkey ra n an $83.9 billion foreign trade deficit in 2012, down 20.7 percent from a year earlier.

Turkey’s exports in 2012 were up 13.1 percent year-on-year, reaching $152.5 billion, while imports were down 1.8 percent year-on-year to $236.5 billion.