Türkiye Achieves its Highest August Exports with $22.1 Billion
In the ranking of sectors with the highest exports, the automotive industry maintained its top position with $2.7 billion. It was followed by the chemicals sector with $2.6 billion and the ready-to-wear and apparel sector with $1.7 billion.
Türkiye Exporters Assembly (TİM) Chairman Mustafa Gültepe: We continue to work tirelessly to reach our year-end target. In eight months, we have organized 91 trade missions with our export associations, and we aim to increase this number to 150 by the end of the year.
Türkiye's exports in August reached $22.1 billion. The eight-month exports from January to August totaled $170.8 billion, while the exports for the past 12 months reached $262 billion.
The August trade figures were announced in Istanbul by Minister of Trade Ömer Bolat and Türkiye Exporters Assembly (TİM) Chairman Mustafa Gültepe.
TİM Chairman Mustafa Gültepe stated that the exports, which saw a double-digit increase in July due to the calendar effect, also closed August with a positive performance. He emphasized that this marked the highest August export figure ever and continued:
“According to the General Trade System (GTS) records, our exports in August increased by 2.4% compared to the same month last year, reaching $22.1 billion. Our eight-month exports from January to August totaled $170.8 billion, while the exports for the past 12 months reached $262 billion. We are up by 3.9% in eight-month exports and by 3.5% in 12-month exports. We also anticipate that our service exports in August will be around $13 billion.
When we look at sectors, the automotive industry led with $2.7 billion. It was followed by chemicals with $2.6 billion, ready-to-wear and apparel with $1.7 billion, electrical and electronics with $1.5 billion, and steel with $1.4 billion. Last month, 17 of our sectors increased their exports, while nine sectors experienced declines. Jewelry was the sector with the highest proportional increase, with a 108% rise in exports. We recorded export increases of 78% in hazelnuts, 36% in fresh fruits and vegetables, 31% in olives and olive oil, and 18% in tobacco. On the other hand, the sector with the most significant proportional decline was the ship, yacht, and services sector, which saw a 70% decrease. According to TİM data, which is based on the legal headquarters of companies, 48 of our provinces increased their exports last month. The top five exporting provinces were Istanbul, Kocaeli, Bursa, Izmir, and Ankara. Additionally, 1,228 companies exported for the first time last month, contributing $85.5 million to our exports. Our unit export value was $1.49, and we recorded a $62 million gain due to exchange rate effects.”
IN AUGUST, EXPORTS TO 129 COUNTRIES INCREASED
Mustafa Gültepe stated that the top export destinations were Germany, the United States, the United Kingdom, Iraq, and the United Arab Emirates. Gültepe said, “In August, we achieved an export increase of over 50% in 42 countries and over 10% in 97 countries. Overall, we increased our exports to 129 countries. Among the country groups we export to, the European Union ranked first again with $8.8 billion. The share of Europe in our total exports was 55.3%.”.
TİM AND ASSOCIATIONS TO PARTICIPATE IN 378 FAIRS IN 2024
Recalling that they started 2024 with a target of $267 billion in goods exports and $110 billion in service exports, Mustafa Gültepe concluded his remarks:
“With August behind us, we have completed eight months, and only four months remain. We continue to work with all our strength to reach our year-end target. Last month, we organized a large-scale trade mission to Nigeria. This month, we will be organizing a trade mission to Morocco. In eight months, we have organized 91 trade missions with our export associations, and we aim to increase this number to 150 by the end of the year. Our participation in fairs, which was 228 in eight months, will reach 378. I once again invite all our companies to participate in the missions and fairs we organize.”