Based on data provided by Turkey Exporters Assembly (TIM), Turkey’s exports were recorded at USD 13 billion 549 million in April 2018, corresponding to an increase of 15 percent compared to the same month of last year.
Officials have stated that Turkey is proud to have exceeded USD 160 billion in exports in the last 12 months. On the other hand, experts in the sector say this figure is expected to go up to USD 170 billion by the end of the year.
Turkey has displayed a very consistent positive performance in exports for the last one and a half year and the records show increase in exports has climbed to double digit numbers in the last 7 months. The export figure of USD 13 billion 549 million in April was recorded as the highest of all times.
The top officials in the sector state that Turkey will succeed to exceed USD 170 billion in exports, soon. When reviewed on quantitative basis exports declined by 1.2 percent to 9.5 million tons in April, while the parity effect in April was positive at $ 876 million.
Having shared this information we need to mention at this point that the major problem of Turkey is the composition of high value (light in weight) export items such as software and advanced electronic components in total exported goods. To provide an example, instead of exporting a container load of wheat it would be much more profitable to export a box of highly advanced technical components, or a software program. Unless - not only Turkey but any developing country in the world - succeeds to solve this issue, it seems to be quite difficult to keep pace with the tough challenge from technology countries such as Germany for instance, on the international arena.
The good point is Turkey is aware of this issue and has been working on alternative solutions to work out the problem so that not only the quantity of exports but also the value per kilogram can be substantially increased to compete in world markets. This would certainly be a major step on the way to introducing a solution for the issue of foreign trade deficit, as well.