Turkey achieves 6-year high growth rate in exports in July

Turkey achieves 6-year high growth rate in exports in July
Posted on: 2 Aug 2017

It is reported that Turkey's exports rose more than 31 percent a year to reach about 11.5 billion dollars in July. According to the statement made by the Turkish Exporters Assembly (TIM), total export value for the last 12 months increased by 7.5% compared to the same period of last year and reached 150 billion dollars.

TIM President Mehmet BUYUKEKSI said that the country's exports rose by 10.7 percent compared to the same period last year and reached about 89 billion dollars in the first seven months of the year.

In the meantime, Turkey's automotive exports rose 41.1 percent year-on-year in July, while exports to Germany, the country's largest market, rose 28 percent in the same period.

Head of Turkish Exporters Assembly (TIM) who held a meeting in Manisa (Western Turkey) to share latest export performance of the country launched some positive figures with participants. He said Russia had ranked number one among top 20 importing countries from Turkey, with an increase of 95.7 percent, In terms of highest performance in July.

Meanwhile, the exports of Turkey to the European Union increased by 29.1 percent compared to the same period of the previous year and received a share of 51.1 percent in our total exports.

It was stated by the organisation that exports to the first five countries of Germany, England, Italy, Iraq and the United States were also increasing.

Based on most recent findings, Germany kept its number one position with a 28.2 percent increase, this month, indicating that the latest political tensions between the two countries have not affected mutual trade between Turkey and Germany.

On the other hand it was observed that the automotive sector had contributed the highest amount with 2.4 billion dollars, in July, while the clothing and chemical sectors contributed $1.5 billion and $1.2 billion respectively in said month.

But the most apparent increase in industrial goods was seen in ship and yacht exports which was four times higher.