Exporters Doubled the Joy in August

According to Turkish Exporters' Assembly (TİM), Turkey's exports increased by 11.9% in August 2017, reaching 12.4 billion USD. Evaluating the data, TİM Chairman Mehmet Büyükekşi told that, “The increase in our exports, doubled the of Eid al-Adha for Turkey.”

Büyükekşi also told, “Since November 2016, our exports have been increasing steadily. We believe that we will reach 155 billion USD by the end of the year and meet our target. Despite the long Eid al-Adha holiday, Turkey's exports increased for the 10th month in a row. As exports increase, other areas of the economy improve as well, every part of the economy is deeply connected. We will see a positive contribution from net exports' to the Q2 GDP growth.”

According to TİM, exports in August increased by 11.9% to 12.4 billion USD, while exports in the first eight months increased by 10.7% to 102.5 billion USD, and the exports in the last 12 month increased by 7.8% to 151.8 billion USD.

Germany kept its place on the top of export destinations of Turkey with 1.3 billion USD, which accounts for roughly 10% of Turkey's exports in August, with an increase of 11.3%. Iraq, UK, USA and Spain followed Germany in the list. EU-28's share in Turkey's exports were 47% in August with an amount of 5.9 billion USD.

16 of the “Top 20 Countries” in Turkey's exports had realized increases in export value. Russia, China and UAE were at the top of the list of biggest improvements with increases of 58.9%, 43.1% and 35.1% respectively.

Looking at the sectors, top performer was automotive as usual, with 1.8 billion USD. Automotive was followed by ready garments and apparel with 1.7 billion USD and chemicals with 1.5 billion USD.

Exports increased by 11% in quantity in August, reaching 9.9 million tons. Exports in the first eight months were 77.2 million tons, with an increase of 12.8%.