Turkey’s exports fall 5% y/y in August

By bne IntelliNews September 1, 2015

Turkey’s exports fell by 5% y/y to $10.5bn in August, said the Turkish Exporters’ Assembly (TIM), contracting for the eighth month in a row.

Auto exports rose by 8% y/y while ready wear & confection exports declined by 0.4% y/y and steel exports saw a sharp decline of 16% y/y in August, according to TIM.

Exports to the EU and CIS declined by 5% in August but Turkish exporters’ shipments to the Middle East and Africa increased by 2% and 10%, respectively.

In the first eight months of the year, Turkey’s exports fell by 9% y/y to $95bn, data of the TIM also showed.

The government projects $173bn in exports for 2015, up from $157.6bn in 2014.

A recent survey by TIM showed that Turkish exporters are optimistic about Q3. 72.8% of the companies surveyed said they expected their exports to increase or remain flat in the third quarter.

 

Turkish Exports

 

 

 

 

 

 

 

 

(USD thousand)

Aug-14

Aug-15

y/y, %

share, %

Jan-Aug/14

Jan-Aug/15

y/y, %

share, %

AGRICULTURE

 1,605,953

 1,475,114

-8.1

14.1

 14,071,970

 13,148,606

-6.6

13.8

INDUSTRY

 9,040,285

 8,664,082

-4.2

82.6

 82,254,989

 72,101,408

-12.3

75.8

Chemicals

 1,427,809

 1,192,968

-16.4

11.4

 11,881,105

 10,469,726

-11.9

11.0

Ready wear & confection

 1,552,560

 1,547,076

-0.4

14.8

 12,695,442

 11,199,275

-11.8

11.8

Automotive

 1,266,765

 1,363,694

7.7

13.0

 14,956,907

 13,496,794

-9.8

14.2

Steel

 955,673

 799,239

-16.4

7.6

 9,003,394

 6,942,082

-22.9

7.3

MINING

 381,295

 343,790

-9.8

3.3

 3,158,448

 2,698,853

-14.6

2.8

Overall Exports

 11,027,533

 10,482,987

-4.9

100.0

 104,439,491

 95,135,724

-8.9

100.0

source: tim

 

 

 

 

 

 

 

 

 

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