Turkey’s exports rose 12.2 percent in May
On a quantity basis, the country’s exports showed an increase of 3.8 percent to reach 10.5 million tons year-on-year in the month, TİM data said.
TİM stressed that the country’s 12-month exports also jumped 10.2 percent year-on-year to $161.7 billion.
Turkey made $69 billion in exports during the first five months of 2018, up 9.3 percent over the same period last year, according to TİM.
The official statistics body said on May 31 that foreign trade balance showed a $27.4 billion deficit from January to April, a yearly increase of 56.2 percent. In April, the foreign trade gap was $6.7 billion, with a 35.6 percent yearly increase.
Nearly 20 percent of Turkey’s exports this May came from the automotive sector with nearly $2.8 billion, up 7.9 percent compared to May 2017, the TİM data showed.
Auto sector exports were followed by the clothing ($1.49 billion) and chemical products ($1.46 billion) sectors, it stressed.
Turkey’s exports to Germany, Britain and Italy, Turkey’s top trading partners, rose 9.76 percent, 12.51 percent and 23.32 percent, respectively, year-on-year in May, according to the data.
The data also showed the country’s exports to its main export destination EU was $7.2 billion in the month.
Istanbul was the Turkish city that exported the most in May with $6.15 billion, followed by prominent industrial centers Kocaeli and Bursa with ($1.17 billion), it stressed.
Turkey’s Economy Minister Nihat Zeybekci said the country’s exports would climb over $170 billion by the end of 2018.
“We take steps to abolish the current deficit problem with our investments and exports,” he added.