Turkey’s exports see slight increase in March: Association

Turkey’s exports see slight increase in March: Association

Turkey’s exports see slight increase in March: Association Turkey’s exports increased by 2.6 percent in March to $11.5 billion compared to the same month of the previous year, according to provisional data from the Exporters’ Assembly of Turkey (TİM). 

The country’s exports declined by 9.8 percent to $33.4 billion in the first three months of the year compared to the same period of 2015, showed data released by the association on April 1. The 12-month exports also dropped to $140.3 billion with a 9.2 percent of decrease. 

Exports increased slightly in February compared to the same month last year, after 14 straight months of decline.

TİM President Mehmet Büyükekşi said some slight increase in exports in the last two consecutive months have cheered exporters up, adding that the new markets will be key for a future hike in the country’s exports. 

According to the TİM statement, some positive contribution from the parity was seen in March for the first time for a long time. The exports saw around $117 million of contribution from the parity effect, it added. 

Sharp rise in exports to the Netherlands, Iran

The largest amount of exports was made to Germany, Britain, Iraq, Italy and the United States in March, according to TİM data. While Turkey’s exports to Italy increased by 15.4 percent, to Germany by 12.4 percent and to Britain by 4.8 percent, exports decreased to Iraq and the U.S. by 12.8 percent and 0.3 percent, respectively. 

In March, the biggest increase was in Dutch exports, placing the Netherlands among the top 30 markets, with an increase of approximately 54 percent compared to the same month of 2015. Iran followed the Netherlands with a 44.2 percent increase in the post-sanction era, according to the TİM data.

The automotive sector again was the top exporter, with over $2 billion in exports in March, followed by the ready-made wear and confection sector and the chemicals sector. The biggest rise in exports was posted by the boat and yacht sector, with around 70 percent of increase in exports in March compared to the same month of 2015, followed by the jewelry sector and the defense sector.