Exports to Europe fall 13 pct in August

Exports to Europe fall 13 pct in August

ISTANBUL - Hürriyet Daily News
Exports to Europe fall 13 pct in August

The automotive sector was not in the top 3 largest export industries in August.

The Turkish Exporters’ Assembly’s (TİM) exports figures for August show a sharp decline in sales to Europe, which is in pace with the Turkish Statistical Institute (TÜİK) figures for a month earlier. The country’s exports engine automotive sector could not secure a place in top three in August, TİM has said.

“We have maintained a healthy landing [economically]. Now we continue at steadier pace,” said TİM President Mehmet Büyükekşi during a press conference in the northern province of Karabük, according to Doğan news agency. Turkey’s economy slowed down during a European-based economic crisis and when growth rates all over the world dropped, he said.

Büyükekşi said exports to the European Union (EU) contracted by 13 percent in August, while the decrease was 11 percent in the first eight months. 

The share of exports to the EU declined to 34.3 percent of total exports in July from 47.7 percent in the same month last year, according to TÜİK data released last week.

The local chemicals industry exported the most with $1.45 billion, followed by the ready-to-wear industry with $1.3 billion and the steel industry with $1.28 billion in August.

“It was a surprise also for us not to see the automotive sector in the top three largest export industries in August, but it is still the exports champion in the first eight months,” Büyükekşi said. 
The highest increase in exports was made by the defense and aviation industry with 61 percent, the jewelry sector with 51 percent and the fresh fruit and vegetable sector with 24 percent in August.

Turkey’s overall exports in August dropped to $10.5 billion, posting a 4.6 percent fall year-on-year, while the figure for the first eight months of the year increased nearly 10.2 percent to $97.7 billion, according to TİM data released on Sept. 1. Exports in the last 12 months increased 10.9 percent reaching $143.9 billion, data said.