Joint Announcement, Record Breaking Export
Ministry of Trade, which was formed by merging the Ministry of Customs and Trade and the Ministry of Economy, joined forces with Turkish Exporters Assembly (TİM) in announcing the preliminary export figures.
According to the Ministry of Trade and Turkish Exporters Assembly (TİM), exports increased by 11.8 percent in July, compared to the same month of the previous year, and reached 14 billion 106 million dollars. In this regard, July 2018 had the highest export figure in Turkey's history.
Minister of Trade, Ruhsar Pekcan said that exports grew by 7 percent to 96.3 billion dollars in the first 7 months of the year and exports in the last 12 months increased by 8.1 percent to 163.3 billion dollars. Pekcan also added “As our exports get stronger, our economy will become stronger as well. In the new era, we now have a chance to look at the whole picture. In order to reach the level of advanced economies, we have to raise our national income, and exports is the best way to achieve it.”
Evaluating the export figures, TİM Chairman İsmail Gülle said that, “We simplified the export figure announcements following the instructions of Ms. Minister. As you are aware of, TIM were announcing the export figures of the previous month on the first day of next month. Former Ministry of Customs and Trade was also disclosing temporary data on the second day of the month and on the last day of each month, TURKSTAT released export figures for the previous month for. The confusion created by this situation is now at an end.”
In July, best performing sector was the automotive industry once again with $ 2.8 billion. Exports of the sector increased by 13.8 percent compared to the same month of the previous year. The automotive industry was followed by apparel with $ 1.6 billion and chemical materials with $ 1.5 billion. The sectors with the highest increase in exports in July were defense and aerospace industries with 77 percent, ship and yacht with 64 percent and steel with 60 percent.
Turkey exported to 223 countries in July. The top 5 countries in Turkey's exports were Germany, UK, USA, Italy and Iraq. In country groups, exports to the EU increased by 15% in July to $ 6.9 billion, while the share of the EU in Turkey's exports was 48.7%.