Export target is achieved. In August, our exports increased by 13 percent compared to the same month of the previous year and reached 21.3 billion dollars. With this performance, our exporters achieved the highest August export figure of all times. The Turkish exporter, which broke records in the last 12 months, reached its export target by exceeding 250 billion dollars in this process.
Turkish Exporters’ Assembly (TIM) announced the foreign trade data for August with the participation of the Minister of Trade Mehmet Muş at a press conference held at the service building of the Southeastern Anatolia Exporters’ Association (GAİB).
Breaking export records in the first 7 months of the year, the Turkish exporter added a new record to its records in August. According to the General Trade System (GTS), exports in August increased by 13 percent compared to the same month of the previous year and became 21.3 billion dollars. Thus, the highest August export record of all time was broken, breaking the record in all of the last 12 months. Realizing 165 billion dollars in the first 8 months of the year, the Turkish exporter achieved its annual export target by showing the success of exceeding 250 billion dollars in the last 12 months.
27% of imports are energy
Speaking at the meeting hosted by GAIB, Minister of Trade Mehmet Muş made the following statements regarding August export figures: “Our foreign trade volume in August increased by 28 percent compared to the previous year and reached 54 billion dollars. Our August imports amounted to 32.6 billion dollars. 8.7 billion dollars, that is, 27 percent of the imports in question originates from energy.
TİM Chairman Mustafa Gültepe noted that the success in exports in July and August indicates that the Turkish economy will continue to grow. Gültepe said, “We will close the turbulent 2022 year due to the war with a significant growth figure by continuing our successes on the export side.” Gültepe stated in her speech that the decline in the Euro/Dollar parity had a negative effect of 1.4 billion dollars on exports in August.
Turkey’s export performance in August
While 53 provinces increased their exports in August, the top 5 exporting provinces were respectively; Istanbul with 8.4 billion dollars, Kocaeli with 1.44 billion dollars, Bursa with 1.40 billion dollars, İzmir with 1.2 billion dollars and Gaziantep with 892 million dollars. The chemical industry maintained its leadership in exports in August as well. The top 5 exporting sectors in this month are respectively; Chemicals with 2.9 billion dollars, automotive with 2.3 billion dollars, ready-made clothing with 1.84 billion dollars, steel with 1.82 billion dollars and electrical-electronics with 1.3 billion dollars in exports. Grain and fruit and vegetable sectors realized the highest export in their history in August.
In August, the number of exporting countries increased from 218 to 220. While exports to 151 countries increased in this month, the top 5 exporting countries were Germany, the USA, Iraq, the United Kingdom and Italy. In addition to these countries, exports increased by 70 percent to the United Arab Emirates, 130 percent to Lebanon and 214% to South Africa.
Bursa’s export performance in August
Bursa’s exports in August increased by 13 percent compared to the same month of the previous year and reached 1 billion 404 million 939 thousand dollars. In the first 8 months of the year, Bursa’s exports were recorded as 10 billion 357 million 506 thousand dollars with an increase of 5.7 percent compared to the same period of the previous year. The top 5 exporting sectors in Bursa in August are respectively; Automotive with exports of 589 million 606 thousand dollars, ready-made clothing with exports of 152 million 437 thousand dollars, steel with exports of 103 million 66 thousand dollars, machinery with exports of 100 million 723 thousand dollars and textiles with 97 million 180 thousand dollars. In the aforementioned month, exports increased by 82.5 percent in the chemical industry, 79 percent in the grain industry and 166 percent in the ship and yacht industry in Bursa. The top 5 countries to which the most exports are made from Bursa in August are respectively; Germany, France, Spain, USA and Italy. In the said month, exports from Bursa to the USA increased by 60 percent, exports to Israel by 80 percent, exports to Canada by 95 percent, and exports to Turkmenistan by 275 percent.