Türkiye's Exports in July was 20.1 Billion Dollars

Automotive sector ranked first among the sectors with the highest exports in July with 2.7 billion dollars. Chemicals ranked second with 2.1 billion dollars and apparel ranked third with 1.6 billion dollars. The unit export value per kilogram increased by 7.4 per cent compared to the same month of last year and rose to 1.40 dollars.

TİM President Mustafa Gültepe: We reached 143.4 billion dollars in seven-month exports. We are at a breakeven point with last year. We anticipate that the revival expected in the last quarter in the European and US economies, which are our main markets, will reflect positively on our exports. By making the best use of the remaining five months, we will hopefully reach the target of 265 billion dollars at the end of the year.”

Türkiye's exports in July increased by 8.4 per cent compared to the same period of last year and reached 20.1 billion dollars. Seven-month exports reached 143.4 billion dollars.

The July export data was announced with the participation of Trade Minister Ömer Bolat in Kahramanmaraş, which was shaken by two major earthquakes on 6 February.

Mustafa Gültepe, President of the Turkish Exporters Assembly (TİM), reported that exports, which started July stagnant due to the calendar effect, stepped up in the second half. Stating that they reached the highest July export value of all time last month, Gültepe continued as follows:

“According to the General Trade System (GTS) records, we completed July with exports of 20.1 billion dollars. We are 8.4 percent plus compared to the same month last year. We reached 143.4 billion dollars in seven-month exports. We are at a breakeven point with last year. In July, the automotive sector made the highest contribution to our exports with 2.7 billion dollars. Our other sectors in the top five were listed as chemistry with 2.1 billion dollars, apparel clothing with 1.6 billion dollars, cereals with 1.4 billion dollars and electrical and electronics with 1.3 billion dollars. In addition to these sectors, significant increases were recorded in the ship and yacht, olive and olive oil, defence and aerospace sectors. In July, 45 provinces increased their exports. The five provinces with the highest exports were Istanbul, Kocaeli, Bursa, Ankara and Izmir. One thousand 198 companies exported for the first time. Our unit export value increased by 7.4 per cent compared to the same month of the previous year and rose to 1.40 dollars. The parity effect, which caused a loss of 10 billion dollars in the 12 months before April, has been making a positive contribution to our exports for four months. In July, the parity difference contributed $ 715 million. The parity contribution in the last four months reached 1.5 billion dollars. The countries we exported the most last month were Germany, Italy, USA, Iraq and the United Kingdom. 189 percent to Saudi Arabia, 162 percent to Canada, 126 percent to the United Arab Emirates, 112 percent to Kazakhstan,

We recorded a 93 per cent increase in exports to Greece. We broke a record in exports to Greece and Canada.”

EARTHQUAKE REGION EXPORTED 10 BILLION DOLLARS IN 7 MONTHS

Gültepe also gave information about the export performance of the provinces affected by the earthquake and emphasised that there were pleasing developments both in the exports of the region and in the solution of the temporary shelter problem.

Explaining that as TİM, in addition to in-kind and cash aids, they have built approximately 1,500 living units in the region, 320 of which are in Kahramanmaraş, in order to prevent loss of employment, Gültepe continued his words as follows:

“We anticipate that the earthquake will cause an export loss of 2.5 billion dollars this year. In parallel with our expectations, 11 provinces exported 10 billion dollars in seven months. We are 15 per cent less than last year. We specially follow the situation of our provinces affected by the earthquake. In July, Gaziantep reached the highest monthly export value of all time. There is also an increase in the exports of Malatya and Adıyaman compared to last year. We are also receiving positive signs from Hatay and Kahramanmaraş. However, these two provinces need a little more time. Our Kahramanmaraş-based companies exported 68 million dollars last month. Since the beginning of the year, total exports have reached 563 million dollars. Hopefully, this beautiful province will complete the year with exports over one billion dollars.”

DEVELOPMENTS IN THE LAST TWO MONTHS HAVE GREATLY RELIEVED OUR EXPORTERS

Gültepe, who also made evaluations on current issues, stated that the developments in the last two months have significantly relieved exporters. Gültepe stated that the rise in exchange rates, which remained horizontal for a long time, gave the exporters a breathing space, and concluded his words as follows:

“There were positive developments last month in terms of our exporters' access to finance. The daily limit of rediscount credits was increased to 1.5 billion TL and access conditions were facilitated. The share of SMEs in rediscount credits was increased. The condition of selling 30 per cent additional export value for rediscount credits was abolished. We support the Central Bank's approach to exclude export credits from the scope of tightening. We see these regulations as important steps that will directly contribute to the achievement of our export targets. Despite the earthquake and the recession in our largest export markets, our economy continues to grow. The IMF revised Türkiye's growth expectation for 2023 upwards to 3 per cent. Although interest rate hikes and tightening policies in the US and Europe are expected to continue for a while, we anticipate a revival in these markets in the last quarter. Of course, the economic recovery in our main markets will have positive reflections on our exports. We had set a target of 265 billion dollars this year. Hopefully, by making the best use of the next five months we will reach our target by the end of the year.”