Exporters Crown the Centennial of the Republic with Records

Chairman of Türkiye Exporters Assembly, Mustafa Gültepe: "In the first 10 months of exports, we reached 210 billion dollars, and in the last 12 months, we reached 254.8 billion dollars. We have achieved the highest export values of all time in both 10-month and 12-month data. We are happy and proud for this meaningful success we have achieved on the 100th anniversary of our Republic".

Among the sectors with the highest exports, automotive reclaimed the top spot with 3.087 billion dollars. It was followed by chemicals with 2.7 billion dollars, ready-made clothing and apparel with 1.5 billion dollars. In October, the average per kilogram unit export value was realized at 1.46 dollars.

"Türkiye's export in October increased by 7.4% compared to the same period last year, reaching 22.9 billion dollars. The 10-month export period from January to October exceeded 210 billion dollars."

The October export data was announced in Ankara with the participation of Minister of Trade Ömer Bolat and Chairman of Türkiye Exporters Assembly (TİM) Mustafa Gültepe. Chairman Mustafa Gültepe began his speech by recalling the enthusiasm and excitement experienced throughout the country on the occasion of the 100th anniversary of the Republic. "I remember with respect and gratitude the founder of the Republic, Gazi Mustafa Kemal Atatürk, and his comrades," said Gültepe, and continued:

"As we start the second century of the Republic, we aim to bring Türkiye into the top 10 countries in exports. We make all our plans and projections in line with this goal. Today, we are here with the pride of crowning the 100th anniversary of our Republic with records. According to General Trade System (GTS) records, we completed October with an export of 22.9 billion dollars. We are up by 7.4% compared to the same month last year. We have achieved the highest October export figure in our history. In the first 10 months of exports, we reached 210 billion dollars, and in the last 12 months, we reached 254.8 billion dollars. We have achieved the highest export values of all time in both 10-month and 12-month data. Automotive returned to the top spot in October with 3.087 billion dollars. The other sectors in the top five were chemicals with 2.7 billion dollars, ready-made clothing with 1.5 billion dollars, electronics with 1.4 billion dollars, and steel with 1.3 billion dollars. Our grain sector also achieved its highest monthly export with 1.207 billion dollars. In October, the average per kilogram unit export value was realized at 1.46 dollars. The increase in the Euro/dollar exchange rate has been positively reflected in our exports since April. Last month, the exchange rate difference contributed 643 million dollars to our exports. Thus, the contribution of the exchange rate to our exports this year has reached 2.4 billion dollars."

STRUGGLING SECTORS TO SET PRICES ARE BLEEDING

Mustafa Gültepe emphasized that despite the high performance of some sectors in the 10-month period, there have been significant losses in the exports of certain sectors. Gültepe stated the following:

"In our steel sector, we observe a decrease in all 10 months, in animal products and non-ferrous metals for 9 out of 10 months, and in ready-made clothing, textiles, mining, and chemicals for 8 out of 10 months. In ready-made clothing alone, our loss in October is 205 million dollars. We have a loss of 75 million dollars in non-ferrous metals, and a loss of 48 million dollars in the cement, glass, and ceramic sector. Most of what I have listed are our leading sectors in exports that are in the top 10. We know that global market developments have a share in the blood loss. However, the problem mainly arises from cost pressure in the production stages. The problem experienced by our exporters in setting prices comes back to our country as foreign exchange loss. If these losses had not occurred, our exports would have continued to grow in double digits."

WE WILL CONCLUDE 2023 WITH OVER 200 TRADE AND PROCUREMENT DELEGATIONS

Mustafa Gültepe reminded that tension has escalated in Türkiye's region due to Israel's attack on Gaza. Saying, "I struggle to find words to express the brutality in Gaza", Gültepe continued his words as follows:

"We hope that this massacre, which is taking place in front of the eyes of the world, will be stopped as soon as possible. Economic expectations continue to be pessimistic in parallel with geopolitical risks. The IMF has revised its growth expectations downward for 2024. High inflation continues to have its impact worldwide. Tight monetary policies persist to reduce inflation. Naturally, these policies also adversely affect trade. Especially in developing countries, economic activity is seen to be below pre-pandemic levels. In our main market, the European Union, PMI data has been below the threshold value of 50 for 15 months. We are going through a period where we see how important it is to increase market diversity. October was a month where we received positive results from our efforts to increase market diversity. Last month, our exports to the United Arab Emirates increased by 752 million dollars in value terms. Similarly, we see an increase of 166 million dollars in Poland, 155 million dollars in Libya, and 129 million dollars in Kazakhstan. I want to emphasize that these countries are in different geographical regions. We are recording significant export increases in Central Asia, North Africa, the Gulf, and Eastern European countries. We plan our trade delegations with consideration of this diversity. Last week, under the leadership of our Minister of Trade, we were in Egypt with a delegation of 150 people; tomorrow we will go to Kuwait. With the support of our Ministry of Trade, as TİM and exporters' associations, we will conclude 2023 with 148 trade delegations and 53 procurement delegations, in total, with over 200 delegations".

ON THE 100TH ANNIVERSARY OF OUR REPUBLIC, WE WILL BESTOW UPON OUR COUNTRY A HISTORICAL EXPORT RECORD OF $365 BILLION

Reminding that they have set targets of $255 billion for goods and $110 billion for service exports in the year 2023, Gültepe stated, "Despite all difficulties, God willing, we will reach this target. On the centenary of our Republic, we will bestow upon our country a historical export record of $365 billion".