Export Volume Hits All-Time High in October
According to data from the Turkish Exporters Assembly (TİM), exports in October reached USD 15.7 billion, up 13.1% compared to the same month of the previous year. This marked the highest monthly export record in Turkish history.
The Turkish Exporters Assembly (TİM) October export figures were announced at a press conference held in Adana with the participation of Commerce Minister Ruhsar Pekcan, Adana Governor Mahmut Demirtaş, Adana Metropolitan Municipality Mayor Hüseyin Sözlü, TİM Chairman İsmail Gülle, ADASO Chairman Zeki Kıvanç and AKİB Coordinator Chairman Ali Uğur Ateş.
Accordingly, October exports rose to USD 15.7 billion, up 13.1% compared to the same period of the previous year. This exceeded the USD 15.5 billion export figure achieved in March 2018, and the all-time record for monthly exports on an annualized basis was broken again. Additionally, the highest October export figure in history was reached.
Exports Over the Last 12 Months Reached USD 166.8 Billion
Over the last 12 months, exports reached USD 166.8 billion, up 7.9%. In the first 10 months, exports rose to USD 138.8 billion, up 7.6%. Turkish Exporters Assembly (TİM) Chairman İsmail Gülle, evaluating the export figures, said: "We are proud to set another new export record before you. 2018 is shaping up to be the record-breaking year we expected. With the exception of June and August, every month has brought its own record. We congratulate all our exporters and wish them continued success."Export-to-Import Coverage Ratio at 20-Year High
In October, our exports were USD 15.7 billion while our imports reached USD 16.3 billion. Accordingly, the ratio of our exports covering imports rose to a 20-year high of 96.7%.Growth Continues in Volume Terms
In October, export volume increased to 12.6 million tonnes, up 25.1% compared to the same period in 2017. October 2018 was the second highest month in terms of export volume to date.Automotive Sector Maintains Leadership
In October, the automotive sector generated the highest exports. The sector's October exports rose to USD 2.9 billion, up 11.1% compared to the same period of the previous year. The automotive sector was followed by chemicals with USD 1.6 billion and ready-to-wear and apparel sectors with USD 1.6 billion.Steel Sector Continues to Feel the Far East Wind
Our steel sector, which drew attention by opening up to the Far East market, increased its exports to Far Eastern countries, led by Hong Kong, Singapore and the Philippines, by 262% in October, while increasing its total exports by 46.9%, making it the second sector with the highest growth rate.EU Exports Rise 13.6% While Share of Total Exports Reaches 50.4%
In our country group exports, exports to the EU rose to USD 7.7 billion, up 13.6%. The EU was followed by Middle Eastern countries with USD 2.3 billion and African countries with USD 1.3 billion.Strongest Market is Germany
In October, Germany was the leading export destination with USD 1.5 billion. Germany was followed by the United Kingdom with USD 1.1 billion, Italy with USD 879 million and Iraq with USD 853 million. While exports to 159 countries and regions increased, exports to 70 countries and regions decreased.Kastamonu Province Shows Highest Export Growth
In October, exports increased in 53 provinces while declining in 28. The leading exporting provinces were Istanbul with USD 6.9 billion, Kocaeli with USD 1.3 billion, Bursa with USD 1.2 billion, Izmir with USD 884 million and Ankara with USD 706 million, while Kastamonu showed the highest growth, increasing its exports five-fold to USD 26 million.1,611 New Companies Added to Export Community
In October, 37,409 companies exported, with 1,611 companies entering the export community for the first time.Advertisement
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