As Turkish Exporters' Assembly, the representative of 67 thousand exporters, who employs more than 3.1 million people, we will continue to guide our exporters towards the future.
World trade organization recently announced their April 2017 global trade newsletter, which includes about 70 countries' data and covering roughly 90% of the global trade. According to WTO data, global trade recorded an increase 6 months in a row, and Turkey's share in global trade increased to 0.90% from 0.89% in April. In addition to this, our share in USA's imports rose to 0.31%, share in UK's imports to 1.72%, and share in EU's imports to 1.29%. Since Turkey's exports were increased by 9.5% in May, we expect our shares in those economies to further increase.
Positive developments in foreign trade affected GDP growth as well. In 2017 Q1, Turkey's GDP growth was 5%, which is also the highest Q1 growth figure since 2014. In line with our expectations, net exports contributed by 2.2% to growth; in other words, about half of our growth was originated from net exports, ending the negative contribution streak of net exports of the last 5 quarters.
As the dedicated exporters of Turkey, these developments are the proof of our vision in declaring 2017 the year of breakthrough. At this point, I would like to mention the recent increase in Turkish Lira's share in both our exports and imports. Since last year, starting with the President Recep Tayyip Erdo€an's call to support Turkish Lira in exports, Turkish Lira's share in the total has been steadily rising. According to the latest TUIK data, Turkish Lira denominated exports increased by 127% in the first 4 months of 2017, reaching 4.9 billion USD. Similarly Turkish Lira denominated imports also reached 5.2 billion USD with an increase of 21%. With these 2 developments, Turkish Lira's share in Turkey's international trade reached 8.5%.
In June, we announced the results of our “Top 1000 Exporters of 2016” research, which we conduct with aims of analyzing our exporters' profile, R&D spending, employment, branding, investment and profitability data. We are hoping to set role models for all of our exporters with this study and guide them in global markets.
Another important even in June was T‹M's 24th Regular General Assembly. With the attendance of the President and Ministers we had a chance to relay our proposals and requests to the government from the first hand. We also rewarded top 10 firms in total exports, 26 sector champions and the firm which recorded highest increase in their exports.
As Turkish Exporters' Assembly, the representative of 67 thousand exporters, who employs more than 3.1 million people, we will continue to guide our exporters towards the future. Together with our Exporters' Associations and all of our exporters, we will continue to produce more, employ more, export more and carry Turkey higher in the ladder. With the help of the latest export incentives and our hardworking exporters, we believe Turkey's exports will continue to rise and contribute to Turkey's growth on a greater level.Last updated on Thursday, July 6, 2017