Türkiye Realized The Highest November Export With 21.9 Billion Dollars
Turkish export exceeded $231 billion in the January-November period and $253 billion in the last 12 months. Automotive was the sector that realized the most export in November with 2.9 billion dollars. Chemicals and their products ranked second with $2.6 billion, and the ready-to-wear sector ranked third with $1.6 billion.
TİM Chairman Mustafa Gültepe: “We will share the pride of completing December in the best way and surpassing the target of 250 billion dollars. A month later, we will announce the highest annual export figure in our history.”
Türkiye Exporters Assembly (TİM) announced the export data for November in Adana with the participation of Trade Minister Mehmet Muş. Despite the slowdown in global markets and the negative impact of the pair, export continued to increase in November.
TİM Chairman Mustafa Gültepe said that they are taking firm steps towards the 250 billion dollars target they have set for 2022. According to the General Trade System (GTS) records, export in November increased by 1.9 percent to reach $ 21.9 billion, Gültepe said.
“With this result, we have achieved the highest November export of all time. Our 11-month exports in the January-November period increased by 13.9 percent and reached 231.2 billion dollars. In the last 12 months, we have achieved an export of 253.5 billion dollars. We have entered the final stage for the $250 billion target we set at the beginning of 2022. I hope that we will complete December in the best way and share the pride of reaching the goal. A month later, with the participation of our President, we will announce the highest annual export figure in our history. In November, the automotive was the sector that contributed the most to our export with 2.9 billion dollars. Our other sectors in the top five were chemicals with $ 2.6 billion, ready-to-wear with $ 1.6 billion, electrical and electronics with $ 1.4 billion, and steel with $1.3 billion. Our Electrical and Electronics, cereals, pulses, machinery, defense and aerospace, and olive and olive oil sectors realized the highest monthly exports in their history.”
EXPORTS TO SAUDI ARABIA INCREASED 9 TIMES IN NOVEMBER
Mustafa Gültepe reported that 45 cities increased their exports in November, while the top five cities with the most exports were İstanbul, Bursa, Kocaeli, Ankara, and Izmir. Explaining that the kilogram unit price increased to $1.7 in November, Gültepe continued as follows:
“The countries to which Türkiye exported the most last month were Germany, the USA, and Iraq. We increased our exports to 125 countries. We recorded a 10-fold increase in exports to the Philippines and a 9-fold increase in exports to Saudi Arabia. In particular, we are experiencing a significant recovery process in our exports to Saudi Arabia. Of course, our target is much higher based on countries. In line with these goals, we strive hard to increase our value-added products on the one hand and to find new markets on the other. We are developing new collaborations with our trade delegations to existing and potential markets. Today, one of our delegations is in South Korea, and another is in Indonesia. In summary, we continue trade diplomacy uninterruptedly.”
EXPORT CONTRIBUTED 2.9 POINTS TO GROWTH IN Q3
Mustafa Gültepe reported that the contribution of export to growth continued. Reminding that the Turkish economy grew by 3.9 percent in the third quarter of the year and that export of goods and services contributed 2.9 points to growth, Gültepe said, “We see a decrease in the growth rate compared to the first two quarters. This decline is due to the economic recession in our main markets. As we have been waiting for a while, we have started to see the results of negative developments due to the decline in foreign demand. Moreover, the uncertainty in global markets continues to increase. We have difficulty seeing ahead of us due to the fog that surrounds us.”
IMPROVING THE CONDITIONS OF EXPORTER'S ACCESS TO FINANCE IS IMPORTANT
Mustafa Gültepe said that there may be periodic ups and downs in global trade. Gültepe stated that they consider production and export in the long term and that they make their strategies and action plans in this direction, and concluded his words as follows:
“We aim to increase our export to over 300 billion dollars within two years. In the long term, we are working with the vision of making Türkiye one of the top 10 countries in export. For these goals, we must increase our export by at least 10 percent every year. Therefore, we need to make new investments and renew the technologies of the existing ones. In such a critical period, it is important to improve the conditions for access to finance. In recent weeks, a partial increase in commercial credit growth has begun. We hope that this growth will continue to accelerate to keep the investment appetite of our companies alive, to make export sustainable, and to increase employment. Access to finance is vital for exports, which have become the locomotive of our economy, not to slow down and for us to be prepared for the future in the best way. Our government has never withheld its support to export and exporters until today. I also believe that the problems in accessing finance will be overcome as soon as possible.