Turkish August exports up 1.4% y/y.

By bne IntelliNews September 2, 2013

Exports rose only 1.4% y/y to USD 10.59bn in August after increasing 17.3% y/y to USD 12.63bn in July, data of the Turkish Exporters’ Assembly (TIM) showed. Turkey’s exports increased 1.3% y/y to USD 98.89bn in January-August.

Ready-wear & confection exports (13.2% share in total exports) increased 8.4% y/y to USD 1.4bn while the automotive industry’s exports (12% share) rose 18.6% y/y to USD 1.3bn in August. Steel exports were down 25.4% y/y to USD 953mn.

Exports to the EU were up 6% y/y to USD 4.4bn in August but exports to the Middle East fell 17% y/y to USD 1.93bn, TIM said.

External demand remains weak and it looks like the second half of the year would be much more difficult, economy minister Zafer Caglayan said while commenting on August export figures. Caglayan has already warned that the government’s export target of USD 158bn initially set for 2013 would be missed.

TIM announces export figures one month before the statistics institute (TUIK).

TUIK announced last week that the country’s foreign trade deficit widened 22.5% y/y to USD 9.81bn in July, well above the market consensus forecasts (Reuters poll: USD 8.2bn deficit and CNBC-e poll: USD 8.3bn deficit).

Exports rose 2.2% y/y to USD 13.1bn while imports increased 10% y/y to USD 22.9bn, according to TUIK data.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Erdogan warns Iraqi Kurds will lose “opportunities” if independence vote proceeds

Turkish President Recep Tayyip Erdogan has warned the Iraqi Kurds that it is in their interests to call off their planned September 25 independence referendum because it “may lead to a process that ... more

Armenia may declare protocols on normalising relations with Turkey “null and void” UN told

Addressing the UN General Assembly, Armenian President Serzh Sarkisian on September 19 warned that Yerevan may be set to declare two protocols aimed at normalising relations with Turkey "null and ... more

Russia’s Rosneft mulls Kurdistan-Turkey-Europe gas pipeline

Russia’s Rosneft is exploring the possibility of building a 30bn cubic metre (bcm) pipeline that would from 2020 deliver natural gas supplies from the Iraqi Kurdistan region to Turkey and ... more

Most Read

  1. STOLYPIN: Russia balances wargames with mindgames in Zapad exercises
    4 days ago
  2. Russia's Binbank asks central bank for help
    4 days ago
  3. Kremlin to launch massive infrastructure projects in 2018
    3 days ago
  4. Bulgaria turns to Russia to repair MiGs amid dispute over new fighter jet purchase
    4 days ago
  5. ISTANBUL BLOG: Commerzbank ignites quarrel claiming Turkey’s official growth figures are “more than questionable”
    11 days ago
  1. Hungary threatens to block Romania’s OECD accession
    18 days ago
  2. ISTANBUL BLOG: Commerzbank ignites quarrel claiming Turkey’s official growth figures are “more than questionable”
    11 days ago
  3. Economists tangle over risk of a Greek-style collapse in Turkey
    22 days ago
  4. STOLYPIN: Russia balances wargames with mindgames in Zapad exercises
    4 days ago
  5. Wild capitalism threatens the untamed rivers of Southeast Europe
    1 month ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss