Confident Steps Towards 250 Billion Dollars Target
Records continue in exports. In February, Turkey’s exports reached 20 billion dollars with an increase of 25 percent compared to the same month of the previous year. This figure was recorded as the highest February export figure in history.
Export figures for February were announced at the meeting held with the participation of Minister of Trade Mehmet Muş and President of Turkish Exporters Assembly (TİM) İsmail Gülle. Speaking at the meeting, Minister of Trade Mehmet Muş stated that the momentum gained in exports in 2021 continued this year as well, and said, “Our exports reached 20 billion dollars with an increase of 25.4% compared to February of last year. This figure is the highest February export figure of all time.”
Energy imports reached 8 billion dollars
Noting that imports amounted to 28.1 billion dollars as a result of the heavy and unexpected winter conditions and the increase in energy prices in February, Minister Muş shared the following information: rose to billions of dollars. Excluding energy, our imports amounted to $20.1 billion in February. In this month, the ratio of exports to imports was recorded as 95.4 percent, excluding energy.
“Nearly half of the growth came from exports”
TİM President İsmail Gülle pointed out that Turkey showed the highest performance of the last 10 years in the economy by growing 11 percent in 2021 and said, “With this performance, we became the country with the strongest performance among the G-20, OECD and EU countries in 2021. Industrial production and exports became the engine of growth. Exports recorded the highest growth on the basis of main items. The contribution of exports to growth was 5.3 points, while the contribution of net exports was 4.9 points. Industry grew by 17 percent and investments by 6 percent,” he said. Emphasizing that nearly half of the growth comes from exports, Gülle said, “Turkey is rising by producing and exporting. The performance of our exports in the last period shows that in 2022, our export family will lead the growth of Turkey. The figures clearly show that we are taking firm steps towards our target of 250 billion dollars.
Turkey’s February export scorecard
In February, 1,718 companies exported for the first time this month. While 69 provinces and 24 sectors increased their exports in the said month, there was an increase in exports to 164 countries. In this month, exports on quantity basis increased by 12.4 percent and amounted to 14.1 million tons. According to the declarations filed in Turkish lira, exports in Turkish lira increased by 92.3 percent and reached 9.06 billion TL in February. The top three provinces with the highest exports in February were Istanbul with 7 billion 978 million 392 thousand dollars, Kocaeli with 1 billion 406 million 37 thousand dollars and Bursa with 1 billion 368 million 887 thousand dollars.
Significant increase in exports of chemicals
The automotive industry was the sector that realized the most exports in February with an export of 2 billion 556 million 445 thousand dollars. This was followed by the chemicals industry with 2 billion 400 million 988 thousand dollars, while the ready-made clothing and apparel industry took the third place with 1 billion 845 million 884 thousand dollars of exports.
On a sectoral basis, the most striking increases were seen in the chemicals, which increased their exports by 728 million dollars compared to the previous year, steel, which increased 595 million dollars, and iron and non-ferrous, which increased 412 million dollars. Cereals, cement, glass, ceramics and fruit and vegetable products sectors broke export records in February.
Exports to EU countries reached 8.4 billion dollars
The Turkish exporter managed to sell to 214 countries and regions last month. The top three exporting countries in February; Germany with $1.8 billion, the United States with $1.3 billion and the United Kingdom with $1.1 billion. The countries in which we increased exports the most in terms of amount were the USA with 384 million dollars, Iraq with 318 million dollars and Germany with an increase of 291 million dollars. When we look at exports by country groups, our exports to the European Union increased by 22 percent and reached a volume of 8.4 billion dollars. When we include other European countries other than the EU, the share of the European continent in February exports was 55.2 percent.
Bursa’s February export scorecard
Bursa’s exports in February increased by 17 percent compared to the previous month and increased by 11,5 percent compared to February of last year. Bursa became the third province with the highest export volume, with foreign sales of 1 billion 368 million 887 thousand dollars in February.
111% increase in steel exports
The automotive industry was the sector that made the most exports in Bursa in February with an export of 537 million 925 thousand dollars. This was followed by the ready-made clothing and apparel industry with 160 million 846 thousand dollars and the steel industry with 122 million 848 thousand dollars. The most remarkable increase in exports on a sectoral basis in Bursa was experienced in steel. Steel exports increased by 111 percent compared to February of last year by 64 million 773 thousand dollars. Ready-made clothing and apparel, which increased its exports by 42 million 208 thousand dollars compared to the same month of the previous year, and the chemical materials sector, which increased 34 million 154 thousand dollars, were also the sectors that attracted attention in Bursa’s exports.
While exports were made to 201 countries from Bursa in February, there was an increase in exports to 134 countries. The first three countries with the highest export from Bursa in the month in question; Germany with 210 million 528 thousand dollars, the United States with 111 million 911 thousand dollars and Spain with 105 million 205 thousand dollars. The countries with which we increased our exports the most in terms of amount were the United States of America with 49 million 218 dollars, Germany with 15 million 578 thousand dollars and Russia with 13 million 690 thousand dollars.
