Turkish exports fall by 2.8 percent in April

Turkish exports fall by 2.8 percent in April

ANKARA/ANTALYA - Anadolu Agency
Turkish exports fall by 2.8 percent in April The value of Turkey’s exports dropped by 2.8 percent in April to $11.4 billion from the same period last year due to a decline in export prices, the Turkish Exporters’ Assembly (TİM) stated in the Mediterranean resort of Antalya on May 1.

The country’s exports fell by 8.4 percent to $46.2 billion during the first four months of the year compared to the same period of 2015, according to TİM data. 

The value of Turkey’s total exports over the last 12 months stood at $139.6 billion, down by 9.6 percent compared to the previous 12 months. 

Exports decreased in April after increasing for two straight months in February and March.

Meanwhile, Turkey’s foreign trade deficit decreased by 16.2 to $4.22 billion in April compared to the same month of 2015, according to temporary data from the Customs and Trade Ministry. 

The country’s deficit declined to $16.24 billion, by 19.96 percent in the first four months of the year compared to the same period of 2015, according to ministry data released on May 2. 

 “The decline in export prices has affected decline in the country’s export value. However, Turkey managed to increase its export volume, [with] which we are pleased,” TİM President Mehmet Büyükekşi said.

The automotive sector made the highest exports in April with exports worth over $2 billion, an increase of 11.5 percent compared with April 2015. 

Other champion export sectors were the ready-made textiles sector with $1.5 billion of exports, up 13.3 percent from April last year, followed by the chemical materials and products sector with exports of $1.22 billion, a decrease of 14.6 percent, according to TİM figures. 

Exports to the EU, Turkey’s main trading partner, increased by 5.1 percent, while Turkish exports to the Middle East decreased by 14 percent in April year-on-year. 

Exports to countries in the Far East, including China and South Korea, increased by 11.1 percent in the mentioned period, according to the TİM, which said Turkey’s exports to a total of 106 countries increased over the last month. 

Germany, Italy, the U.S., the U.K. and Iraq were the largest export markets for Turkey in April. Exports to Germany increased by 3.8 percent, exports to Italy rose 12.7 percent, and exports to the U.S. rose by 11.9 percent in April.

Exports to Iraq declined by 27.9 percent and exports to the U.K. declined by 1.3 percent. 

The largest increase in Turkey’s exports among its top 20 markets was seen in Netherlands with an increase of 28.2 percent, followed by a 26.6 percent increase in neighboring Bulgaria.