Exports Continued to Speed Up in August

Turkish Exporters Assembly (TİM), with the participation of Minister of Trade Ruhsar Pekcan has announced provisional foreign trade data for August in Sivas on the occasion of the 100th anniversary, of Sivas Congress which laid the foundation of the Republic of Türkiye. Exports in August, according to the General Trade System (GTS)  increased by 1.7 percent compared to the same month of the previous year and amounted to USD 13 billion 150 million. In the first eight months of the year, exports increased by 2.9 percent and reached USD 117.3 billion. The New Economy Program 2019 target was approached even closer with a score of USD 180.1 billion in the last 12 months.

TİM Chairman İsmail Gülle indicated that with the decrease in seasonal effects in the last 4 months of the year, the year-end target will be surpassed easily by catching an increase of at least USD 500 million every month compared to the same month of the previous year and continued as followed: “In 2019, we are experiencing a rapidly updated agenda and  changing market balances in the global political economy, especially in terms of trade. Nevertheless, thanks to the dynamism and strategic decisions of our exporters, our exports continue to pave the way for our economy with the correct route determination. The contribution of net exports, which was realized as 7.4 points in the second quarter 2019 according to the growth figures announced by TurkStat last day, once again highlighted the importance of exports in our economic growth. Since the beginning of this year, we expect our exports to continue their successful monthly figures. As a matter of fact, the performance of our exports in August was above our expectations despite the holidays. Especially as our valueadded and price-quality performance increases, we are experiencing more sustainable achievements.” 

USD 200 billion export value for the 2019-2020 period and 5G vision they continue to focus on revolutionary changes. Gülle stressed that they will continue trade diplomacy in all the regions and 223 countries in order to reach these goals. Gülle also stated that they will easily reach the targets set by the New Economy Program and the 11th Development Plan and export goal of USD 226.6 billion in 2023 will be easily achieved. Gülle reminded that the e-commerce market volume is expected to reach USD 1 trillion in 2020 and drew attention to Türkiye's logistical location and airway network, claiming that these advantages will have a serious role in achieving the goals of the Export Master Plan for a e-commerce breakthrough.

Referring to the details of the export of August President of TİM noted these: “First of all, I would like to express with great pleasure that 1,219 of our companies said 'Hello' to the exports market in August. 1,215 of these companies made their first export in August for this year, although they exported in the past years. While most of our companies which started exporting in August, opened their first declarations to Germany, Iraq and Azerbaijan, 40 of them opened to the USA and 29 of them to the Russian market.”

In August, exporters managed to wave the Turkish flag in 223 countries and territories. Exports to 132 of these countries increased, while the increase in 108 countries was more than 10 percent, and over 50 percent in 56 countries. The top 3 countries with the highest exports were Germany with USD 1 billion 123 million, England with USD 1 billion and Iraq with USD 633 million. 49.2 percent share of the total exports was shared by the top 10 countries, while the share of the first 20 countries was 65.7 percent. The European Union, which is Türkiye's largest export market, had a share of 48.2 percent in August.

Looking at the provinces exports in August, 45 provinces increased their exports. The top 3 provinces with the highest exports are Istanbul with USD 5.6 billion, Kocaeli with USD 974 million and Bursa with USD 953 million. The most remarkable increases are the cases of Yalova, Mupla and Malatya. Yalova reached USD 57 million by increasing its exports by 17 times, Mula reached USD 44 million by increasing 36.8 percent and Malatya reaching USD 31 million dollars by a 34.4 percent raise. While Yalova's export growth was influenced by the Ship and Yacht sector, the increase in the Aquaculture and Animal Products sector in Mula and Malatya brought success.

Steel was the leading sector in exports for 54 countries. With 45 countries, the Chemicals sector is the second, and in 35 countries the leading sector is Grain. In terms of provinces; it was seen that 16 of the provinces carried out the most exports to Iraq. Iraq is followed by Germany with 12 provinces, USA and China with six provinces 

Commenting on the Export Master Plan that was announced last week by Ruhsar Pekcan, the Minister of Trade as the most important agenda of the last days for the export family, Gülle said: “Export Master Plan, which is a road map of exports, one of the most important pillars of our economy, sheds light on the future of our country and economy on the way to our export targets while meeting the sector's opinions and suggestions. Digital transformation, Industry 4.0, new generation incentives, new approaches to investment and all similar steps will have a multiplier effect on our exports. Achieving these moves immediately and following them up to date with impact analysis may lead to much higher export figures.” Gülle indicated that with the reforms pioneered by Pekcan, the Minister paved the way for record exports figures and as TİM with their “Foreign Trade Surplus that Türkiye” mission, target to reach the