Turkey: Exports reach $16.01B in September

ISTANBUL

Turkey this year hit an all-time high in September export figures -- $16.01 billion -- Turkey’s trade minister announced on Friday.

The country's exports rose 4.8% on a yearly basis and 28.5% on a monthly basis in September, Ruhsar Pekcan said.

Turkey's exports also climbed 34.5% in the third quarter of this year from the previous quarter, she added.

These export figures confirm that Turkey’s recovery and normalization from the pandemic period are continuing successfully, Pekcan stressed.

Meanwhile, the country's imports in September totaled $20.89 billion, with an overwhelming 89.3% made up of raw material and capital goods, she said.

In the first nine months of this year, Turkey's exports totaled $118.35 billion and imports $156.24 billion, the trade minister added.

In September, export/import covering ratio -- excluding gold imports -- was around 90.9%, and it was 84.4% in the first nine months, she noted.

"The purchase and sale of gold should be evaluated differently from goods trade.

"Through gold imports, gold -- which has a capital value -- is brought to the country in exchange for foreign currency," she stressed.

In September, the gold imports were $3.4 billion, she added.

Apparel exports posted 15% rise to reach $1.6 billion in September, while textile rose by 12.8% to $1.1 billion, chemicals by 19.4% to $1.1 billion and machinery by 4.8% to $2.1 billion, she said.

The minister also noted that the automotive sector posted an increase for the first time during the pandemic period by 0.5% to $2.2 billion.

The country's exports to France rose by 12.8%, while Germany (10.6%), the UK (3.2%), and Spain (2.3%) followed it in September, the minister stressed.

Italy and the Netherlands posted drops by 7.2% and 5.9%, respectively, she added.

Exports to the EU increased by 5.6%, to America by 22%, to Asia 6.8% and to Africa by 1.7% in September, she said.

Stressing that the pandemic narrowed the world economy at an unprecedented level and reduced demand in important markets such as the EU, Pekcan said Turkey has posted a significant performance in the export side.

Touching on Turkey's supports for exporters, she said the country's Eximbank in the first nine months raised its supports by 7% to $30.4 billion.

She also said the country organized 24 trade delegations, covering 40 countries this year and made 4,200 business meetings.

Pekcan highlighted that the number of Turkish exporters increased by 6.8% year-on-year in September.