Wednesday, September 1, 2010
ISTANBUL - Hürriyet Daily News
 Speaking to journalists in Istanbul on Wednesday, Mehmet Büyükekşi, the chairman of the Turkish Exporters’ Assembly, says exports decreased to $8.561 billion in August from $9.417 billion in July. |
Despite the continuing effects of the global financial crisis, the top Turkish exporters’ organization said August foreign sales rose 11.44 percent compared to August 2009.
Speaking to journalists at a press meeting in Istanbul Wednesday, Mehmet Büyükekşi, the chairman of the Turkish Exporters’ Assembly, or TİM, said exports had decreased to $8.561 billion in August, down from $9.417 billion in July, due to seasonal influences.
In the first eight months of the year, exports increased 12.95 percent compared to the same period last year, as total exports reached $72.97 billion.
August’s export champion was the textile and ready-wear industry, with a total export volume of $1.18 billion. The chemicals industry ranked second with a total of $1.89 billion by August. Surprisingly, the “traditional champion” of exports, the automotive industry, ranked third with a total trade volume of $1.5 billion.
Agricultural exports reached $1.162 billion, while industrial exports reached $7.72 billion and the mining industry’s exports rose to $327 million.
The highest rate of annual increase was recorded by the tobacco industry’s massive 45.73 percent jump, followed by mining products’ equally impressive 41.04 percent increase and the cut flowers sector’s 31.31 percent increase.
Büyükekşi said Turkish exports to Germany had risen by 15 percent, to the United Kingdom by 22 percent and to the Netherlands by 16 percent.
According to Büyükekşi, Turkey increased exports to neighboring countries in August, too. Sales to Iraq rose by 29 percent and to Iran by 51 percent, while exports to Saudi Arabia increased by 47 percent. Despite political tensions between Turkey and Israel, Turkey still increased exports to Israel by 34 percent in August, compared to last year’s figures.
Talking to the Hürriyet Daily News & Economic Review, Büyükekşi said: “According to official data, in the first seven months of the year exports rose by 13.4 percent and imports rose by 24.6 percent. These figures show that Turkish exports are not dependent on imported intermediary goods.”
Noting the alarming current account deficit, Büyükekşi reminded that the gap has reached $35 billion. “An overvalued Turkish Lira hurts export performance,” he said.
Trade Minister Zafer Çağlayan told the Daily News that a special board has started preparing a new “road map” for exporters. The board includes prominent economists such as Asaf Savaş Akat and Ercan Uygur.
“We are open to discussing everything, except the floating exchange rate regime,” the minister said.
Speaking to journalists at a press meeting in Istanbul Wednesday, Mehmet Büyükekşi, the chairman of the Turkish Exporters’ Assembly, or TİM, said exports had decreased to $8.561 billion in August, down from $9.417 billion in July, due to seasonal influences.
In the first eight months of the year, exports increased 12.95 percent compared to the same period last year, as total exports reached $72.97 billion.
August’s export champion was the textile and ready-wear industry, with a total export volume of $1.18 billion. The chemicals industry ranked second with a total of $1.89 billion by August. Surprisingly, the “traditional champion” of exports, the automotive industry, ranked third with a total trade volume of $1.5 billion.
Agricultural exports reached $1.162 billion, while industrial exports reached $7.72 billion and the mining industry’s exports rose to $327 million.
The highest rate of annual increase was recorded by the tobacco industry’s massive 45.73 percent jump, followed by mining products’ equally impressive 41.04 percent increase and the cut flowers sector’s 31.31 percent increase.
Büyükekşi said Turkish exports to Germany had risen by 15 percent, to the United Kingdom by 22 percent and to the Netherlands by 16 percent.
According to Büyükekşi, Turkey increased exports to neighboring countries in August, too. Sales to Iraq rose by 29 percent and to Iran by 51 percent, while exports to Saudi Arabia increased by 47 percent. Despite political tensions between Turkey and Israel, Turkey still increased exports to Israel by 34 percent in August, compared to last year’s figures.
Talking to the Hürriyet Daily News & Economic Review, Büyükekşi said: “According to official data, in the first seven months of the year exports rose by 13.4 percent and imports rose by 24.6 percent. These figures show that Turkish exports are not dependent on imported intermediary goods.”
Noting the alarming current account deficit, Büyükekşi reminded that the gap has reached $35 billion. “An overvalued Turkish Lira hurts export performance,” he said.
Trade Minister Zafer Çağlayan told the Daily News that a special board has started preparing a new “road map” for exporters. The board includes prominent economists such as Asaf Savaş Akat and Ercan Uygur.
“We are open to discussing everything, except the floating exchange rate regime,” the minister said.
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