TİM Announces January Export Data

Turkish Exporters Assembly Announces January Export Data The Turkish Exporters Assembly (TİM) announced January 2022 export data. In January, exports reached USD 17.6 billion, representing a 17.3% increase compared to the same month of the previous year. With this figure, Turkey reached its highest January export record in history. The strong interest of companies in exports continued to be reflected in the number of exporting firms in 2022. In January, 1,516 companies joined the export family by exporting for the first time. Exporters who managed to fly the Turkish flag in 219 countries and regions increased their exports to 153 countries. The top 3 countries where Turkish exporters conducted the most exports were Germany with USD 1.6 billion, the United States with USD 1.2 billion and Italy with USD 1 billion. The automotive sector, which achieved USD 2.2 billion in exports in January, ranked first, followed by the chemicals sector at USD 2.1 billion and the steel sector exceeding USD 1.6 billion in third place. Evaluating the export figures, TİM Chairman İsmail Gülle stated: "In 2021 alone, our export family broke a total of 348 records on a provincial, country, sectoral and monthly basis. Just as 2020 will be remembered for the pandemic, 2021 will be remembered for the records in our exports. As a result of these achievements, our esteemed President set a new target for our export family at the annual foreign trade evaluation meeting held last month. The target is exactly USD 250 billion. To reach this target and meet larger orders, we need to implement economies of scale in every sector. Because this target is one that demands greater production, more investment and places economies of scale at the center of production," he said. The Turkish exporter, serving as field staff for Turkey's economy and trade diplomacy, continued to refresh export records every month despite the pandemic, and signed 4 more records according to November data. The Turkish Exporters Assembly (TİM), which brings together 61 exporter associations and 27 sectors with over 100,000 exporters, working and producing for economic growth and Turkey's place among world powers, announced January foreign trade data through a meeting held in Ankara with the participation of Commerce Minister Mehmet Muş. In 2021, the export family broke 348 records on a provincial, country, sectoral and monthly basis, and started January with a new record. According to the General Trade System (GTS), January exports reached USD 17.6 billion, representing a 17.3% increase compared to the same month of the previous year. With this figure, the highest January export record in the history of the Republic was achieved. Thus, the first step towards the 2022 export target of USD 250 billion was successfully taken.

348 Records in One Year

TİM Chairman İsmail Gülle, making a statement about January export figures, said: "Our export family demonstrated historic performance in the first month of the new year and reached a record. In January, our exports reached USD 17.6 billion, representing a 17.3% increase compared to the same month of the previous year. With this figure, we managed to reach the highest January export record in our history. I heartily congratulate each member of our export family who contributed to this successful performance. 2021 was a year in which a success story was written that would not be found elsewhere in our Republic's history and would be remembered as a turning point in our exports even years later. In just one year, our export family broke 348 records on a provincial, country, sectoral and monthly basis. Just as 2020 will be remembered for the pandemic, 2021 will be remembered for the records in our exports. As a result of these achievements, our esteemed President set a new target for our export family at the annual foreign trade evaluation meeting held last month. The target is exactly USD 250 billion. To reach this target and meet larger orders, we need to implement economies of scale in every sector. Because this target is one that demands greater production, more investment and places economies of scale at the center of production," he said. Stating that as the Turkish Exporters Assembly they firmly believe that every company can become an exporter, Gülle said, "Where there are exports, there is production, employment and hope. For this reason, we are continuously pursuing our projects to attract new members to our family. The strong interest shown by our companies in exports continues to be reflected in our exporter company count in 2022. A total of 1,516 of our companies joined the export family by exporting for the first time this month. Of our 1,516 new companies, 333 operate in furniture, 331 in chemicals and 280 in ferrous and non-ferrous metals sectors. Our new companies achieved USD 85.4 million in exports in January. The number of companies exporting this month reached 42,494," he said.

Monthly Target of USD 2.1 Billion Increase

Gülle said that important consolidation work had been carried out in some sectors recently. "We welcome with appreciation the unity of our sectors to respond to larger orders. Last year we successfully leveraged the disruptions in global supply chains. To reach our new export target, we need to increase our exports by an average of USD 2.1 billion more each month. Thank goodness we achieved this in the first month of the year. Along with the increase in our exports, large-scale operations and rising costs bring greater financial responsibilities and needs," he said.

Export Development Fund to Launch in March

Noting that with the Export Development Fund (İGE) being put into operation in March, the financing access problem of our exporters will be largely resolved, Gülle said, "Under the leadership of our esteemed President, with the support of our Minister and Government, our more than 100,000 exporters will, God willing, surpass the USD 250 billion target by year-end with our labor," he said.

Highest Exports in Automotive

Sharing details about export figures, Gülle provided the following information: "When we look at the details of our figures, we see that 23 of our sectors increased their exports. Our automotive sector, which achieved USD 2.2 billion in exports this month, ranks first, while our chemicals sector reaching USD 2.1 billion ranks second and our steel sector exceeding USD 1.6 billion ranks third. The most notable sectoral increases compared to the previous year were recorded in our steel sector, which increased exports by USD 578 million, our chemicals sector by USD 495 million and our ferrous and non-ferrous metals sectors by USD 366 million. I congratulate all our sectors for these successful performances." Saying "Our exporters managed to fly our country's flag in 219 countries and regions this month," Gülle continued as follows: "We demonstrated success in increasing our exports to 153 countries. The top 3 countries where our exporters conducted the most exports were Germany with USD 1.6 billion, the United States with USD 1.2 billion and Italy with USD 1 billion. The countries where we increased our exports the most in terms of value were the United States with an increase of USD 303 million, Egypt with USD 190 million and Iraq with USD 189 million. Looking at exports by country groups, our largest market, the European Union, achieved a share of 41.6% by reaching USD 7.3 billion with a 14% increase. When we include other European countries outside the EU, Europe's share in January exports reached 53.4%. In other country groups, we exported USD 3 billion to Middle Eastern countries, USD 1.9 billion to the entire African continent, USD 1.4 billion to North America and USD 1.2 billion to Far Eastern countries."

7.8% Increase in Volume Terms

Noting that exports in volume terms increased 7.8% to 13 million tons, Gülle said, "At the same time, quite positive momentum continues in our export unit prices. Our unit export value increased by 9% to USD 1.35 compared to the same period of the previous year. The sectors that increased their unit export value the most this month were the electrical-electronics sector at 83%, the defense and aviation sector at 58% and the steel sector at 49%. As our value-added and branded exports increase, the value of our products will increase further," he said. Noting that 62 provinces increased their exports in January, Gülle said, "Our top 3 exporting provinces were Istanbul with USD 7 billion, Kocaeli with USD 1.5 billion and Bursa with USD 1.2 billion. Apart from these cities, our other provinces that attracted attention with increased exports were Izmir, which increased exports by USD 265 million and Ankara by USD 137 million. According to declarations made in Turkish lira, a total of TRY 7.5 billion was exported in Turkish lira to 180 countries. Turkish lira exports increased 59% in January. The use of local currencies in mutual trade will continue to be important for the upcoming period," he said.

"Ensuring Energy Supply Security is More Important Than Ever Today"

Noting that as a result of the latest figures from 2021, global trade is expected to exceed USD 21 trillion with a 22.4% increase, Gülle concluded his remarks as follows: "Turkey, positively diverging from its competitors, increased its exports by 33% in the same period. This 10 percentage point difference is concrete evidence of how well we leveraged the disruptions in global supply chains. We are very pleased that the upward trend in our exports continues in the new year. Apart from these positive developments, the common problems that the entire world is struggling with appear as risks for 2022. Forecasts for global merchandise trade for 2022 point to a maximum increase of 5%. In this regard, it is extremely important that we protect the gains we achieved last year. On the other hand, rapidly rising global inflation is a serious problem for the entire world. In 2021, inflation reached its highest level in 39 years in the United States, 30 years in Germany and 25 years in the Euro zone. Factory gate prices in China climbed to their highest level in 26 years. The upward momentum in commodity prices is expected to continue in 2022. Brent oil reached its highest levels since 2014, cotton and nickel since 2011. The Baltic Dry Index saw its highest level in the last 10 years in 2021. Similarly, energy costs are seeing the highest figures in recent years. When adverse weather conditions in many parts of the world and political tensions in producer countries are added to fluctuations in energy markets, global natural gas prices reached their highest level in 13 years. Ensuring energy supply security is more important than ever today. Our Government is working intensively on this issue. Our President also announced that partial energy cuts will be completely lifted soon. We express our gratitude to our esteemed President and Government for their support to our export family. God willing, we will overcome these problems in the near future and continue on our path with even greater strength."