Turkey’s exports rise around 7 pct in August thanks to sharp rise in car sales

Exports rose by 6.9 percent in August to $11.16 billion compared to the same month of 2015, marking the largest increase in exports in the last 28 months. 

The automotive sector made exports worth over $1.68 billion in August, amounting to 15.1 percent of Turkey’s total exports, according to the TİM data, which excludes gold and jewelry data. The sector was followed by the ready-made clothing sector with exports worth $1.61 billion and the chemical materials sector with exports worth $1.21 billion.

While Turkey’s total exports were announced as amounting to $92.6 billion in the first eight months of the year, marking a 3.1 percent decrease, its 12-month exports amounted to $140.9 billion, marking a 5 percent decline. 

In the first eight months of the year, the automotive sector again topped the list with exports worth $15.14 billion, followed by the ready-made clothing and confection sector with exports worth $11.58 billion, and the chemicals sector with exports worth $9.17 billion. 


Germany tops list

Turkey made the highest amount of exports to Germany in August with a 17.4 percent of year-on-year increase. Exports to the U.K. saw a 1.4 percent increase, to Iraq a 4.2 percent of decrease, to the U.S. a 19.6 percent of increase and to France an 8.3 percent increase. 

Turkey’s exports to the EU rose by 12.7 percent in August compared to the same month of 2015. 
TİM President Mehmet Büyükekşi noted that Turkey had seen the highest increase in exports of the last 28 months in August.

“We expect our exports to the EU countries and north America, as well as to others, to reach higher amounts,” Büyükekşi said in the Black Sea province of Giresun, as the association revealed the latest export data.


Exports to Bulgaria, Israel and Iran soar

Among the 20 countries to which the largest amount of exports were made, the highest increase was seen in Bulgaria in August with an 82.9 percent year-on-year hike. Turkey’s exports to Israel saw a 34.6 percent increase and exports to Iran saw a 23.6 percent increase.