Turkey’s exports continue to rise in June as trade with Russia surges: Association
GAZİANTEP - Anadolu AgencyThe value of Turkey’s exports rose 1.8 percent year-on-year to $12.7 billion in June as its trade with Russia soared, the country’s main exporters’ association said on July 1.
The Turkish Exporters’ Assembly (TİM) said exports in the first half of the year also climbed 8.2 percent to reach almost $76.4 billion.
Turkey’s total exports in the last 12-month period rose 4.5 percent compared to the previous 12 months to stand at $147.3 billion.
In June, the automotive sector contributed the highest exports with $2.5 billion, up 16.4 percent over the same month last year.
It was followed by the clothing and chemical sectors with $1.4 billion and $1.3 billion, respectively.
The highest increase among industrial products was seen in ship and yacht sector exports with a 178 percent rise, TİM said.
Another prominent rising export sector in June was the olive and olive oil sector, up 63 percent.
Exports to Russia soar
Among the top 20 destinations for Turkey’s exports, Russia saw the sharpest rise, 89 percent, due to a fivefold increase of fresh fruit and vegetable exports, according to TİM.
Exports to Turkey’s main trading partner, the EU, rose 2.8 percent month-on-month in June, making its share of the country’s total exports 50.5 percent, the association said.
Turkey’s exports to its second-biggest trading partner, North America, jumped 17.8 percent in the month compared to June 2016.
Exports to Turkey’s other main export markets were also on the rise -- Germany (up 4.4 percent), the U.K. (up 2.1 percent), Italy (up 1.8 percent), the U.S. (up 14.1 percent) and Iraq (up 4.4 percent).
Commenting on the new figures, TİM head Mehmet Büyükekşi said the limited rise in June exports was due to the smaller number of working days due to the Muslim Eid al-Fitr holiday compared to the same period last year.
He added that Turkey saw a strong recovery in exports in the first five months of the year, which has helped the country’s growth rate.
In the first five months, Turkey’s exports rose 9.5 percent to $64.3 billion compared to the same period last year, according to the Turkish Statistical Institute (TÜİK).
“We believe that we will reach higher growth rates with the contribution of exports in the upcoming periods,” Büyükekşi said.