Turkey's machinery exports exceed $10B in past 7 months

ISTANBUL

Turkey's machinery exports have reached $10.3 billion in the first seven months of 2019, the Machinery Exporters' Association (MAIB) said on Wednesday.

The figure was $9.8 billion in the January-July period of 2018.

The sector's export volume rose to 1.75 million tons, up from 1.5 million tons in the same period last year, MAIB said.

"While global trade is narrowing due to protectionist policies, political sanctions and Brexit uncertainty, our trade and market share is increasing," said Kutlu Karavelioglu, the head of MAIB.

The sector's exports also rose by 6.3% to $17.7 billion year-on-year in the last 12-month period.

Turkey's overall exports were $104.2 billion during the first seven months of 2019, according to Turkish Exporters Assembly data.

Turkey's machinery exports were $17.1 billion in 2018, while the export-to-import ratio in the machinery sector was 64%.