15 Nisan 2011 Cuma

Turkey's monthly export figures still lower than pre-crisis period

The automotive industry is driving Turkey's exports, November figures say. Hürriyet photo

The automotive industry is driving Turkey's exports, November figures say. Hürriyet photo
Turkey’s exports rose 7.28 percent in November compared with the same period last year to reach $9.452 billion, the chairman of the Turkish Exporters’ Assembly, or TİM, said Wednesday in the eastern province of Malatya.

In the last 11 months, Turkish exports rose 10.94 percent compared with the same period last year to reach $102.16 billion in total, TİM head Mehmet Büyükekşi said.

But the numbers were considerably down compared with the $10.79 billion posted in October, the highest monthly amount recorded in the last 11 months, according to figures.

The figures, moreover, are below pre-crisis volumes. Turkey’s export volume stood at $11.18 billion in November 2007 and was reduced to $8.68 billion in November 2008.

The leading sector in November was automotives, reaching $1.30 billion, and was followed by ready-wear and chemical products, with export volumes of $1.18 billion and $1.17 billion, respectively.

Exports of agricultural products reached $1.38 billion with a share of 14.69 percent of total exports. The volume of industrial exports, with a share of 82.55 percent, reached nearly $7.80 billion. Mining sector exports reached $261 million, with a share of 2.79 percent of overall exports.

“The highest rise in November was recorded by the maritime industry, with an increase of 92.33 percent, chemical products, with an increase of 37.26 percent, and the jewelry industry with 33.85 percent,” said Büyükekşi, adding that the highest amount of exports was posted by Istanbul, at $4.2 billion.

The northwestern province of Bursa ranked second with nearly $846 million, followed by Kocaeli, İzmir, Manisa, Ankara, Gaziantep, Denizli, Hatay and Mersin. The top exporters list did not include Malatya, which had $30 million in total export value in November.

“The highest province increase in exports in November was achieved by [the Central Anatolian province of] Kırıkkale, with nearly 1,315 percent, thanks to recent investments in the tire and wheel industry,” Büyükekşi told reporters.

Germany remains the top importer 

“Foreign sales to Germany, Turkey’s main export destination, rose 14 percent and reached $1 billion in November compared with the same period last year,” Büyükekşi said, adding that Germany remained the top importer of Turkish products.

According to November TİM figures, Turkey’s exports to Britain decreased by 6 percent to nearly $515 million and France by 19 percent to nearly $471 million.

“Turkey increased its exports to Iraq by 18 percent, to Russia by 29 percent, to Iran by 65 percent, to Spain by 7 percent and to Romania by 14 percent in November,” said Büyükekşi adding that exports to Italy decreased by 6 percent and to the United States by 2 percent.

Noting that recent figures showed that developed markets could not recover as well as was predicted from the global crisis, Büyükekşi said: “We will look for different markets due to recession in the West. Europe still remains a highly important market for us.”

Warnings on hot money

“Unfortunately one of the primary reasons for the global economic crisis, the flow of hot money into markets in an uncontrolled way, seems like a formula of recovery from the crisis to some people,” said Büyükekşi.
He also said the assembly had been working on pointing out the possible effects of hot money on exchange rates and competitiveness in the global arena.

Malatya, world apricot exporter

Addressing journalists, Büyükekşi said that as the supplier of nearly 80 percent of the world’s apricot production, the city is still ready to offer more for new investors.

According to Malatya Chamber of Trade figures, the city supplied 80 percent of the world’s apricot production and obtained export revenues of $276.2 million in 2009. The total amount of dry apricots processed by members of the chamber reached 200,000 tons in the same year, for a total value of nearly 750 million Turkish Liras, or nearly $501.4 million.

Turkey meets annual export target

Turkey has met its annual export volume target by reaching $112.21 billion in the last 12 months, according to figures from the Turkish Exporters’ Assembly, or TİM.

Mehmet Büyükekşi, the assembly’s chairman, had announced previously that Turkey’s target for 2010 was to reach a total export volume of $112 billion by the end of the year.

In the last 12 months, Turkey increased its export volume by 12.43 percent and showed considerably promising performance, said Büyükekşi.

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