Türkiye's September Exports Amounted to 22.7 Billion Dollars

Chemicals and chemical products sector took the lead in the list of top exporting sectors with 2.846 billion dollars. It was followed by the automotive sector with 2.822 billion dollars, and by the apparel sector with 1.7 billion dollars. The average per kilogram export value in September was recorded at 1.42 dollars.

TİM President Mustafa Gültepe: "In order to increase our exports and mitigate the adverse effects of fluctuations, we need to find alternative markets. This year, we are giving special importance to trade delegations with the goal of diversifying our market portfolio. In coordination with our Ministry of Trade, we, together with our export associations, organized 118 trade delegations to 62 countries in the first nine months".

Türkiye's exports in September reached 22.7 billion dollars, showing a 0.3% increase compared to the same period last year. The nine-month export total for the January-September period reached 187.5 billion dollars

The September export figures were announced at a press conference held in Bursa, attended by Minister of Trade Ömer Bolat. Mustafa Gültepe, President of the Turkish Exporters' Assembly (TİM), reported that they achieved the highest export volume last month when looking at September specifically. Gültepe continued, saying:

“According to the General Trade System (GTS) records, we concluded September with exports totaling 22.7 billion dollars. Compared to the same month last year, we have experienced a 0.3% increase. We have broken the cycle of alternating monthly gains and losses in our exports, which persisted in the first half, starting from July. Since July, we have been achieving higher export figures compared to the same months of the previous year. Looking at the January-September period, we are at almost the same level as last year, with 187.5 billion dollars. In the last 12 months, our exports have amounted to 253.5 billion dollars. In September, our chemicals and chemical products sector contributed the most to our exports, with 2.846 billion dollars. The other sectors in the top five were automotive with 2.822 billion dollars, ready apparel with 1.7 billion dollars, electronics with 1.4 billion dollars, and steel with 1.379 billion dollars. Last month, 31 of our provinces increased their exports, with the top five being Istanbul, Kocaeli, Bursa, Izmir, and Ankara. Konya and Amasya achieved their highest monthly export figures. In September, 1,484 of our companies conducted exports for the first time. Our average unit export value was recorded at 1.42 dollars. The increase in the Euro/dollar exchange rate has been positively impacting our exports since April. Last month, the exchange rate difference contributed 700 million dollars to our exports. The six-month contribution is approaching 3 billion dollars. The countries where we conducted the highest amount of exports in September were Germany, the USA, Iraq, Italy, and the United Kingdom. We also set monthly export records in seven countries, including Poland and Uzbekistan.

THE STAGNATION IN EUROPE IS HAVING A NEGATIVE IMPACT ON OUR EXPORTS

Mustafa Gültepe pointed out that demand in Europe, which is Turkey's main export market, has been sluggish for the past year. Despite the 0.8-point increase in the manufacturing PMI in the Eurozone in August, Gültepe noted that it still remained below the threshold value. He continued his remarks as follows:

“When we look at the foreign trade of the 29 countries in Europe this year, we see significant declines in imports of steel for 25 countries, iron and non-ferrous metals for 21, textiles for 19, chemicals and chemical products for 19, and apparel for 16. The steel imports of the U.S. decreased by 15%, Germany's iron imports by 19%, Italy's textile imports by 11%, France's chemical imports by 10%, and the UK's apparel imports by 15%. Naturally, this situation is adversely affecting our exports. Europe and the U.S. will continue to be our main markets. However, on one hand, we need to find alternative markets to increase our exports and mitigate the negative effects of seasonal fluctuations. This year, we are placing special importance on trade delegations with the goal of diversifying our market portfolio. In coordination with our Ministry of Trade, we, along with our export associations, organized 118 trade delegations to 62 countries in the first nine months. The day before yesterday, we were in Qatar with a delegation of 115, including representatives from all 27 exporting sectors, led by our esteemed Minister of Trade. In the capital, Doha, we had very productive business meetings and also inaugurated the Turkey Pavilion at the Doha Expo. In a few days, we will be heading to Bahrain with a new delegation. By the end of the year, we will have reached a total of 170 trade delegations. Such an intense delegation program has never been organized in the history of TİM and our associations. Hopefully, we will all see the positive results of these efforts in the coming months.”

11 BANKS SUPPLIED CREDITS EXCEEDING 1 BILLION DOLLARS TO EXPORTING COMPANIES

Mustafa Gültepe emphasized that taking the right steps at the right time inevitably leads to positive outcomes. He reminded of the protocol signed by TİM with 11 public and private banks, stating, 'More than 3,500 of our companies benefited from the credit package created by our banks in just one month. During this period, our companies utilized 4.2 billion Turkish Lira, 788 million dollars, and 116 million Euros in credit. This means that the volume of credit used in one month has exceeded 1 billion dollars. We also see the positive effects of raising the daily limit for rediscount credits to 3 billion Turkish Lira. Access to finance for our exporters has largely ceased to be a problem. Now, instead of wasting time searching for financing, we can focus more on production and export,' he stated. Gültepe added that he believes they will close out 2023 with an export value surpassing 255 billion dollars by making the most of the remaining three months.