Turkey's exports rose 6.1 pct on annual basis

Turkey's exports rose 6.1 pct on annual basis

ANKARA-Anadolu Agency
Turkeys exports rose 6.1 pct on annual basis

Turkish exports posted a year-on-year rise in January, the head of Turkish Exporters' Assembly said on Feb. 3.

The country's exports boosted 6.1 percent on an annual basis to $14.8 billion last month, Ismail Gülle said at a press meeting held in southern Hatay province.

"This is the highest January export figure in the history of the Republic," Turkish Trade Minister Ruhsar Pekcan said on Twitter.

Pekcan underlined that the figure hinted at economic recovery despite weak trend in global economy.

"We will continue our successful performance of 2019 in foreign trade with the same resolve and determination in 2020," she said.

According to Gülle, imports also surged nearly 19 percent to hit $19.2 billion during the same period.

"Thus, the exports-to-imports coverage ratio reached 76.8 percent in January," he noted.

The trade volume reached $34 billion in January, rising 13 percent year-on-year.

Germany ($1.5 billion), Italy ($889 million) and the U.K. ($870 million) were the main recipients of Turkish exports in the month.

The country's exports to the EU hit $7.4 billion in January, bringing the bloc's share in Turkey's total exports to 50 percent, thanks to the recovery in the EU, Gülle said.

In the same period, Turkey imported the most from Russia ($2.1 billion), China ($1.9 billion), Germany ($1.35 billion), and the U.S. ($1.27 billion).