July 2016 Export Figures Revealed

Turkish Exporters' Assembly (TİM), revealed July 2016 export figures with a press conference in Burdur. Condemning the coup attempt, Chairman Mehmet Büyükekşi expressed that Turkey's macroeconomic foundations are strong enough to get through this unharmed. Mr. Büyükekşi also added that Turkey is stronger now, with the people's support and political stability.


According to TİM data, monthly exports dropped by 18.7 percent in July, becoming 8.8 billion U.S. dollars. Commenting on the data, Mr. Büyükekşi stated that, the coup attempt's effect on the exports were limited and this loss was in fact, due to the 9-day long Eid al-Fitr holiday.


Looking at the 7-month data, Turkey's exports were recorded as 80.4 billion U.S. dollars with a drop by 4.9 percent. On the other hand, quantity based exports in the first 7 months increased by 4.5 percent.


Top performing industry was automotive with 1.7 billion U.S. dollars in exports. Automotive was followed by garments and apparels, with an export figure of 1.2 billion U.S. dollars.


In July, Turkey increased their exports to 62 countries, biggest increase was in Netherlands, with 8.9 percent. In addition to this, 13 Turkish cities increased their exports while 65 had export drops.