While the leading countries have reduced their export since the beginning of 2019, Turkey has maintained its growth. Turkey's export reached USD 16 billion 336 million in October with 2,9 percent growth in eight months.
Turkish Exporters' Assembly (TİM), announced the temporary export data of Turkey with the participation of Minister of Trade Ruhsar Pekcan during the 6th of its Regional Councils in Turkish Exporters' Assembly Denizli Council. According to the General Trade System (GTS), Turkey's export reached USD 16 billion 336 million in October 2019. n the first months of the year, export reached to USD
149 billion with the growth rate of 2,1, export on the last 12 months reached USD 180 billion. TİM Chairman İsmai Gülle stated that the impacts of protectionism's winds are substantive, and he pointed out that “In consequence of the stagnation that the global investments are facing, anticipation of interest rate cuts, which are already negative, dominate the markets.
Federal Reserve System (FED) lowered the rate of interest 3rd time this year, putting the indicative interest rates to the corridor of 1,50 – 1,75. While the European Central Bank did not change the rates of interest during their last meeting, they announced that the political rate of interest will be kept at 0 and the interest rate of deposits will be kept at minus 0,50 percent. The uncertainty caused by global advancements, especially in Europe, cannot rouse any demand and investment from the community even though the credit taps are flowing to the fu extent. his circumstance is naturally affecting the world trade and global economic growth.
While the expectation of global growth is forecast at 3 percent by International Monetary Fund (IMF), growth rate for our country has been revised and uplifted to 0,2 percent. The fact that Fitch, a reputable credit rating agency, upgraded its Turkey report and emphasized that our economy has made a rebalancing progress approves the recovering statements made by Turkey. Cleareyed decisions made by our government and central bank hae a secure influence on the disposal of the effects caused by currency attacks that we encountered in 2018. We, the exporters, foresee that the road map drawn with the “New Economic Program” will support a period of change in whie fufiing the expectations of economic growth, empoment, inflation and account balances.”
NUMBER OF EXPORTING COMPANIES HAS SURPASSED THE IMPORTERS
İsmail Gülle mentioned “Regardless of the negative effects caused by the trade wars and political economy actions year-to-date, export kept its good performance month by month as predicted. In spite of the difficut period goba trade is passing through, Turkey is making a good progress in export. Without being affected the sanction threats aiming at our recent Peace Spring Operation, our export perpetuated the success. When compared to our rivals and attractive target market, the export performance they displayed in 2019 highlights our accomplishments even more.
South Korea made public that their export has dropped , percent in the first eight months of 2019. This decrement of export is 5,9 for the United Kingdom, 5,6 for Germany and 4,7 for Spain while South Africa experienced a 5 percent narrowing in export. China, the world's giant, experienced a limited export increase of 0,3 whereas our country has experienced a 2,9 export increase in the first months. hereb, our amount of export increase has the quality to stand out among its rivals thanks to dynamism and strategic decision making of our exporters. Our family of exportation, which is the center of sustainable economic growth keeps expanding with each passing day.
Number of exporting companies has surpassed the number of importing companies for the first time in ears. hie we had 79 thousand 773 exporters in 2018, the number has raised to 83 thousand 286. Under the leadership of our honorable minister, the leaps that are put into practice and remarkable steps towards digitalization are greasing the skids for the record books.
To outshine this kind of succession, it is crucial for our firms to find financia aid. Recent developments expressed by Minister of Treasury and Finance, for instance the interest rate cut as of November the 1st and providing loans for additional employment, are very satisfactory developments for a better investment climate. Above all, in spite of the increment of input costs, an equilibrating currency policy that is implemented by the government is a priority for our exporters” Gülle stated that led by Minister Pekcan towards the “Main Exportation Pan as and exporters unions they are concentrated on the target market and they continuously pursue expanding the family of exportation through certain proects and training.
He emphasized “With the awareness of digital transformation, we will ease the ogistica and financia processes and range up our catering for target markets like the USA. We should, high technology intensity wise, principally acknowledge the pay share of 5,8 that we have determined as the foremost target. As , the proects, trainings and innovation-oriented works we carried through the 7 regions of our country are clear indicators of the importance we attach to the growth of high technology export share. Our responsibility as exporters is to be sustainab beneficia to our exporters and national economy by performing the strategies aimed at underscored obecties. working harder, being aware of added-value production, we will attain the export obectie of USD, 226,6 billion for 2023 easefully.”
1.555 FIRMS STARTED EXPORTING IN OCTOBER
While touching upon the October export details, Head of stated irst of a, . firms started exporting in October. firms in enii oined our fami of exporting for the first time. hen examined individually, 40 thousand firms exported in October.”
EXPORTATION TO 106 NATIONS SHOWED INCREASE
In October, exporters have managed to carr our flag over 207 country and regions. As the exportation to the 106 countries increased, the increment was over 10 percent in 78 countries and over 50 percent in 36 countries. Top 3 exporting countries were Germany with USD 1,49 billion, United Kingdom with USD 982 million and Iraq with USD 978 million. While the first countries shared 48,3 percent of the market and the first countries shared 65,7 percent of the market. Being the largest market of Turkey, share of European Union in Turkey's export was 48,4 percent. Throughout the month, TL was used as the exporting currency to 197 countries, raising the total sum to TL 5,9 billion. 7 thousand firms preferred urish Lira for their bills in October.
THE MOST SPECTACULAR INCREASE OCCURRED IN GIRESUN
When the export rates of provinces are examined individually, 47 provinces increased their export. The 3 biggest export provinces llion, Bursa with USD 1,43 billion and Kocaeli with USD 1,34 billion. The most remarkable increases are; Giresun, tripling its export and reaching USD 39 million, Düzce, with 83 percent increase in export and reaching USD 30 million and Afyon with 63 percent increase in export reaching USD 50 million. While the hazelnut sector was influentia in the increase of the goods Giresun and Düzce exported, cereal sector brought success in Afyon.
DENIZLI MAY OUTSTRETCH ITS POTENTIAL INTO THE UPPER LEAGUE
Minister of Trade Ruhsar Pekcan, Governor of Denizli Hasan Karahan, Mayor of Denizli Metropolitan Municipality Osman Zolan, Denizli Exporter Association representatives and prominent entrepreneurs of the region attended enii ounci meeting, aiming towards “Turkey having foreign trade surplus” and listening to the requests of the exporters and discussing the regional problems in detail.
Emphasizing the export potential of Denizli province, hairman smai e pointed out enii, one of our gates to the outer world today, has become capable to compete with the world in any economic territory but especially in textile and raw materials, apparel manufacturing and marble. hie being in the first exporter provinces without exceptions, according to the first exporter sure 2019, which is a traditional sure done b , among the biggest 1000 exporters of Turkey, 28 exporters from Denizli appear in the list. eing a significant center of production of towels and bathrobes, Denizli supplies one-third of the total exporting demand of the country.
Denizli also gained recognition as being the cotton textile capital of the world. While the total yearly export of Denizli in 2002 was USD 680 million, it surpassed USD 1 million in 2004 and USD 3,1 billion in 2018. This number Denizli achieved in 2018 is also the biggest yearly export number. Total export share of Denizli was 1,9 percent. This number once again was the same in 2002.
We expect Denizli, a province of Turkey increasing its performance correspondingly to the export increase of Turkey, to show such a performance that will surpass the export increase of the country. Hence forth, we can bring forward any issue such as scaling up, branding, outturn of research and development centers and market diversity because it is possible for Denizli, with its industrialization policy being shown as a model, to act as a model in this sense too. Thus, if the obectie of carring the regiona export first, and carrying the national export later be the aim, Denizli may outstretch its potential into the upper league.