Turkey’s exports go down in July due to 9-day Eid al-Fitr holiday: Association
BURDUR - Anadolu Agency
AA photoThe value of Turkey’s exports decreased by 18.7 percent in July to $8.8 billion compared to the same period last year because of the long holiday period in the month, the Turkish Exporters’ Assembly (TİM) said on Aug. 1.
The assembly noted that the number of working days in July of the year was only 16 days, compared to 22 days in the same month of 2015. Turkey declared a nine-day public holiday starting from July 2 for Eid al-Fitr, which marks the end of the holy month of Ramadan, aimed at boosting domestic tourism in the country.
The country’s exports decreased by 4.9 percent to $80.4 billion during the first seven months of the year compared to the same period in 2015, according to the assembly’s data.
Turkey’s value of total exports in the last 12 months stood at $139.7 billion, down by 6.1 percent compared with the previous 12 months.
Exports to the European Union, Turkey’s main trading partner, decreased by 10.6 percent in July, but it had increased by 4.9 percent in the first seven months.
Turkey’s exports to the Middle East decreased by 25 percent in July, year-on-year.
TİM also reported that Turkey’s exports to 168 countries had decreased during last month.
Germany, Italy, the U.S., the U.K. and France were the largest export markets for Turkey in July.
The country’s exports to the U.K. decreased by 28.3 percent, to the U.S. by 26.5 percent and to Germany by 12.9 percent in the month.
In July, Turkey increased its exports to 62 countries, as the biggest increase was exports to the Netherlands, with 8.9 percent. Moreover, 13 Turkish provinces increased their exports, while 65 witnessed a drop.
The automotive sector made the highest exports in July, with over $1.72 billion worth of exports, an increase of 5.2 percent compared with July last year.
Other champion export sectors were the ready-made textiles sector with $1.25 billion, followed by the chemical materials and products sector with almost $1 billion, according to the data.