Exports Reached USD 11 Billion 727 Million in October

Exports Reached USD 11.727 Billion in October

According to data from the Turkish Exporters Assembly (TİM), October exports stood at USD 11.727 billion, down 4.6 percent compared to the same period last year. In the first ten months of the year, exports fell 3.7 percent year-on-year to USD 115.952 billion. TİM Chairman Mehmet Büyükekşi said, "According to the latest released data, we failed to increase our share of world trade to 0.89 percent. Our share of EU imports reached 1.27 percent levels, setting a record. To further improve this ratio, we need to increase high value-added production." Büyükekşi stated, "According to WTO data, global trade declined 4.4 percent in the first 8 months. In the same period, exports fell 8.8 percent in South Korea, 12.1 percent in the UK, 7.2 percent in China and 5.6 percent in the US. Turkey is demonstrating positive performance compared to other countries."

Automotive Maintains Leadership

By sector, the automotive industry achieved the highest exports in October with an increase of 8.2 percent and USD 2.190 billion. This was followed by ready-made clothing and apparel with USD 1.431 billion and chemical substances with USD 1.239 billion. In October, the largest export increases in industrial products were achieved by the automotive sector at 8.2 percent, and in agricultural products by the olive and olive oil sectors with a 23.2 percent increase.