Export Figures Reach 12.8 billion $ With a 14.8% Increase in February

Export figures of Turkey are on the rise since November 2016. Therefore the expectations are mainly concentrated on 'if the change in increase will happen in double digits or not'. In fact the markets are getting used to the rise in double digits with February.

Chairman of Turkish Exporters Assembly, Mehmet Buyukeksi announced the export figures of February from Senegal with President Recep Tayyip Erdogan. Buyukeksi said “The African Opening in Turkish Foreign policy which has been started 15 years ago by our President, is still ongoing with a notable success. We have made critical contacts in this visit of ours to Mauritania and Algeria. And now we announce our export revenues in here, Senegal. Hopefully this effort between Turkey and African Countries will bear positive results in political and commercial relations.”

According to Turkish Exporters Assembly, Turkey's exports were 12.8 billion $ with a 14.8% increase. Thus, this has been the best February in export history of Turkey. On the other hand, export revenues has become 25.3 billion $ with a 12.8% increase for the first two month of 2018.

Büyükeksi, Chairman of the Turkish Exporters Assembly, has noted that; they have announced 2018 as the “year of records in export revenues” in January with Minister of Economy, Nihat Zeybekci. He also mentioned that the 169 billion $ export revenue target will be exceeded and the numbers will likely reach above 170 billion $ at the end of 2018.

The Rise in Automotive is Still Ongoing

With a 2.8 billion $ export revenue; automotive displayed the best performance among sectors. Comparing to last years' February, revenue in exports has risen 25.7% this year. Moreover automotive sector just by itself has made 22% of all exports this month.

Apparel sector with 1.4 billion $ and Chemicals with 1.3 billion $ followed automotive sector. The highest increase took place in Olive and Olive Oil sector with 101% while Ornamental Plants with 71.8% placed second and Tobacco with 47.4% had the third place. In general, exports in agriculture increased by 10.6%, industrial goods increased by 15.8% and mining products increased by 8.1%.

Germany Kept Its Place and Share of EU Reached 53%

Turkey's exports to 159 markets have increased in February. Among the top 5; exports to Germany rose 21.7%, exports to Italy rose 27.7%, exports to United Kingdom rose 20.4%, exports to USA rose 4% and exports to France rose 19.1%. Belgium had the highest increase among the top 20 countries with a 70.5% increase.

Exports to EU increased 24.6% comparing to the February of 2017. Therefore the share of EU became 53% of all exports. On the other hand, exports to Africa rose 16.7%, exports to Commonwealth of Independent States rose 20.6, exports to North America rose 3.5% and to Free Trade Areas increased by 24.3% in February 2018.

Export Quantity is Almost Same While the Revenues are Up

“The increase in export volume was nearly 1.5% totaling 9.5 million tones. On the other hand, exports revenues has risen 14.8%. This means we exported the same products with better prices. As a result our unit value has also increased. Our efforts to develop R&D Facilities, innovation, design and branding strategies will give better results” said Buyukeksi.

Istanbul is the Top Exporter

60 cities increased their exports while 20 of them faced a decrease. Performances of the top 5 exporting cities resulted as; Istanbul with 5.3 billion $, Bursa with 1.3 billion $, Kocaeli with 1.2 billion $, İzmir with 817 million $ and Ankara with 598 million $. The best performance in increase was in Ankara with 25.3% among the top 10 cities.