TIM - Türkiye Exporters Assembly - We Must Involve All Sectors to Achieve Double-Digit Growth

We announced the export figures for July in Samsun, a city that holds a profoundly symbolic place in the history of Türkiye. It was in Samsun on May 19, 1919, that the Great Leader Atatürk ignited the torch of independence.

In this emblematic city of our War of Independence, we shared export data of great significance. In July, during which we increased our exports by 11 percent, we achieved the highest monthly export figure in our history with 25 billion dollars. Our seven-month exports reached 156.4 billion dollars, while our exports over the last 12 months rose to 269.5 billion dollars.

The double-digit growth we attained in July exports is extremely significant. As the export community, we are pleased with the result, for we frequently emphasize that in order to reach our medium- and long-term targets, our exports must grow at double-digit rates. The path to double-digit growth lies in a diversified export model that receives positive contributions from all sectors.

However, the 11 percent increase recorded in July stemmed largely from cyclical factors. Last month, we observed that our exports were dominated by the automotive and chemical sectors. There was a 23 percent increase in automotive and a 33 percent rise in chemicals. Of the 2.5 billion dollar increase in July, approximately 1.6 billion dollars originated from these two sectors. The exchange rate parity also contributed 825 million dollars. In other words, 2.4 billion dollars of the 2.5 billion dollar growth in July can be attributed to our automotive and chemical sectors along with the impact of the parity.

Nevertheless, in order to achieve consistent and sustainable growth, we must involve all our sectors. This, in turn, requires the revitalization of our waning competitiveness. We regard the 300 basis point interest rate cut implemented by the Central Bank in its July meeting as a positive step. I would like to express my gratitude to Central Bank Chairman Fatih Karahan for this rate cut and the three-month extension of the 3 percent foreign exchange conversion support.

We, too, continue to devote intense effort to increase our exports. Given the erosion in our competitiveness, we are placing great importance on our delegation programs to compensate for the markets we have lost.

As Türkiye Exporters Assembly and the Exporters Associations, we organized 65 trade delegations in 45 countries over the past seven months. On our agenda for the next five months are 59 general and sectoral trade delegations. I invite all our companies to participate in these delegations.

On the other hand, the new tariffs of the United States, the world's largest importer, have largely been clarified. The last-minute decision by the Trump administration to raise the additional customs duty imposed on Türkiye from 10 percent to 15 percent has been recorded as an adverse development for our exports. In terms of tax rates, we still enjoy an advantage compared to many countries. However, to turn this advantage into an opportunity, we must restore the competitive conditions we had two to three years ago.

We Must Involve All Sectors to Achieve Double-Digit Growth We Cannot Achieve Our Goals Without Regaining Our Competitiveness We Must Interpret the Growth Data Correctly We Must Accurately Interpret Opportunities Challenges Persist, Yet Promising Developments Emerge We Must Restore Exports as the Driving Force of Growth We Must Maintain The Balance Between Inflation And Exchange Rates We Have Successfully Completed Yet Another Challenging Year Exports Continue to Be the Dynamo of Our Economy Production and Exports Must Not Be Neglected We Focus on the Next Three Months We Have Set Our Compass Towards Our Goals Costs and Exchange Rates Must Be Balanced We Must Enhance the Global Competitiveness of Our Firms We Achieved The Highest Monthly Export In The History Of The Republic We Must Approach Exports With a Comprehensive Understanding We Must Concentrate on Our Targets in The Upcoming Four-Year Period Without Any Elections Those Who Can Manage Change Can Survive Our Exporters Are Able To Turn Global Crisis Into Opportunity We Can Turn Dual Transformation Into an Opportunity With Innovation.