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

 

 

 

 

 

 

 

 

 

Related Articles

Turkey reportedly set to raise debt limit for first time in 8 years as Ankara fuels credit

Turkey is preparing to raise its debt limit for the first time since 2009 after first-half borrowing left the Treasury near its legal ceiling, Bloomberg reported on July 25. Citing a person with ... more

Four Turkish companies reportedly consider IPOs in London or Istanbul

Turkey’s Enerjisa, Memorial Health Group, Tab Gida and Baskent Gaz are considering public offerings in London or Istanbul, unnamed sources told Bloomberg on July 19. Enerjisa, a 50:50 JV ... more

Turkey bars entry to thousands from more than 140 nations over suspected IS ties

Turkey has arrested and deported thousands of people suspected of having links to the Islamic State group according to a Turkish interior ministry report entitled “Turkey’s Fight ... more

Dismiss