Use of TL in Exports Increased by 127 Percent in the First Four Months

Mehmet Büyükekşi, President of the Turkish Exporters Assembly, noted that the use of Turkish Lira (TL) in foreign trade has increased every year. "In the first four months of 2017, export by using TL increased by 127 percent. The share of TL in our exports reached a record level with 9.6 percent in this period. "

Büyükekşi said TL's share in Turkey's foreign trade increased from 1 percent to 6.5 percent in the last 10 years. "In the same period, TL's share in our exports also rose to 5.5 percent in 2016, even though it was below 2 percent. This trend, which we have caught, continues in the same way in 2017. In the first four months, export by using TL in transactions increased by 127 percent. Thus, the share of TL in our exports has reached a record level with 9.6 percent in this period. "

Büyükekşi stated that they, as TIM, are representing 67 thousand exporters who are employing 3.1 million people. "We are continuing to work for TL to be used more in our foreign trade. The increase in TL usage in foreign trade allows the TL to increase its trading volume and reputation. In this context, we emphasize that each of our firms should export with TL as a method of protecting ourselves from foreign currency risk in exports."

The Biggest Support comes from Jewellery

“A significant portion of the increase in TL transactions in exports was made by the Jewellery sector alone. Besides, we see that the usage of TL is also increasing in our cereals, textiles, apparel and automotive exports. If we were to look at the countries, our companies are exporting to 179 countries by using TL, while Iraq and the United Arab Emirates were the countries with the highest increase in export with TL.”