Foreign Trade News from Turkey

 According to data announced by Turkish Exporters’ Assembly (TİM), exports grew by 6.6% to reach $12.5 billion in June 2014 compared to the same month of the previous year. Turkey’s exports in the past 12 months increased 2.6% and reached a total of $156.6 billion. Economy Minister Nihat Zeybekçi noted that total exports in the first half of the year reached $80 billion with an increase of 7.3 percent, which is an important step for accomplishing the Medium Term target of $166.5 billion exports by the end of the year.

In June 2014, the automobile industry contributed the most to Turkey’s exports with $2.3 billion. It was followed by the read-to-wear exports with $1.6 billion and the chemicals sector with $1.5 billion. Turkey’s total exports to EU countries increased by 15 percent, North America increased by 12 percent and the Middle East increased by 2 percent.  Germany, Britain, Iraq, France and Italy were the top five countries importing from Turkey in June 2014.

Source: Translated from Ministry of Economy website

Post by: Ministry of Economy Directorate General of Exports

 Foreign Trade Statistics, March 2014

Exports increased by 12.4% and imports decreased by 3%  According to the provisional data, produced with the cooperation of the Turkish Statistical Institute and the Ministry of Customs and Trade, in March 2014; exports were 14 748 Million Dollars with a 12.4% increase and imports were 19 943 Million Dollars with a 3% decrease compared with March 2013. Foreign trade deficit decreased by 30.1%  In the same month, foreign trade deficit decreased by 30.1% from 7 437 Million Dollars to 5 195 Million Dollars. In March 2014, exports coverage imports was 73.9%, while it was 63.8% in March 2013. Seasonally and calendar adjusted exports increased by 3.6%  Seasonally and calendar adjusted exports increased by 3.6% and imports decreased by 0.8% compared with previous month. Calendar adjusted exports increased by 12.4% and imports decreased by 3.2% compared with March 2013.  Exports to the European Union (EU-28) increased by 13.5%  As compared with the same month of the previous year, exports to the EU-28 increased by 13.5% from 5 361 Million Dollars to 6 084 Million Dollars. The proportion of the EU countries was 41.3% in March 2014, while it was 40.9% in March 2013.  The main partner for exports was Switzerland In March 2014, the main partner country for exports was Switzerland with 1 364 Million Dollars (1 275 Million Dollars of gold for non-monetary purpose exportation). Switzerland was followed by Germany    (1 334 Million Dollars), Iraq (1 001 Million Dollars) and the United Kingdom (848 Million Dollars).  The top country for imports was Russia In March 2014, the top country for Turkey’s imports was Russia (2 181 Million Dollars), records for imports range from China (2 043 Million Dollars), Germany (1 984 Million Dollars) and the USA (1 135 Million Dollars).  Ratio of exports of high-tech products in manufacturing industries was 3.4% Foreign trade by technology intensity covers the manufacturing industries’ products in classification of ISIC Rev. 3. According to the ISIC Rev. 3, the ratio of manufacturing industries products in total export was 93.9% in March. The ratio of high-technology products in manufacturing industries was 3.4%. The ratio of medium-high-technology products in manufacturing industries was 30%.  Ratio of imports of high-tech products in manufacturing industries was 14.7%  The ratio of manufacturing industries’ products in total import was 77.1%. The ratio of high-technology products in manufacturing industries’ products was 14.7% in March 2014. The ratio of medium-high-technology products in manufacturing industries’ products was 43.1%   Source: http://www.turkstat.gov.tr/PreHaberBultenleri.do?id=16073

A brief report about machine tools production and trade in Turkey has been recently updated by Ministry of Turkey. The report states that, according to worldwide statistics for the year 2013, Turkey is the 13th largest manufacturer among 28 machine tool manufacturing countries, with a production value of US$ 709.2 million. 32% of the total is from metal cutting type machining centers and the remaining 68% from metal forming type machine tools. For the year 2012, Turkey was the 16th largest manufacturer among 28 machine tool manufacturing countries, with a production value of US$ 644.2 million. The Turkish machine tools industry partially meets domestic demand and about 66.5% of the production was exported in 2013. Turkey’s machine tools exports were US $458.1 million in 2013. The Turkish machine tools industry exports high-tech machining centers as well as metal-forming type machine tools. Machine tools that are exported are mainly metal-forming types.

For the full report, please click here.

Post by: Ministry of Economy, Directorate General of Exports 

The 115th China Import and Export Fair (Canton Fair) Phase 1 will be held in Guangzhou, China on April 15-19, 2014. Turkey will participate in the event at national level.  Approximately 50 Turkish companies from many sectors will be present at the fair.

For more information about Turkish exhibitors, please click here.

Post by: Ministry of Economy Directorate General of Exports