The Aegean Region Recorded USD 42.6 Billion in Exports

The Aegean Region recorded TRY 42.6 billion in exports in 2023 according to trade activity province export statistics released by the Ministry of Commerce, while imports declined by 2 percent to TRY 20.9 billion. The Aegean Region's export-to-import coverage ratio reached 203 percent.

Izmir's foreign trade volume reaches USD 36.7 billion

Izmir led Aegean Region exports with USD 23.793 billion in exports, while Izmir's imports reached USD 12.928 billion. Izmir's foreign trade volume climbed to USD 36.7 billion, with the export-to-import coverage ratio recorded at 184 percent. Manisa, ranking as Turkey's 8th largest exporting province, achieved USD 7.747 billion in exports during 2023. With imports of USD 3.5 billion, Manisa's foreign trade reached USD 11 billion, while its export-to-import coverage ratio climbed to 221 percent. Denizli, the capital of home textiles, was affected by global recession in 2023 regarding both exports and imports but posted USD 4.025 billion in exports and USD 2.224 billion in imports. Denizli's foreign trade volume reached USD 6.250 billion, with the province achieving USD 181 in exports for every USD 100 of imports.

Balıkesir's foreign trade volume exceeds USD 3 billion

Balıkesir recorded USD 2.284 billion in exports while imports reached USD 725 million. Balıkesir's foreign trade volume surpassed USD 3 billion, with the export-to-import coverage ratio reaching 305 percent. Aydın, where air conditioning, mining, automotive parts and agriculture sectors dominate exports, closed 2023 with USD 1.661 billion in exports while recording USD 638 million in imports during the same year. Muğla, the export champion in the fisheries sector nationwide, earned USD 1.189 billion in foreign currency for the Republic during its 100th Anniversary year. With imports of USD 465 million, Muğla's export-to-import coverage ratio stood at 256 percent. Kütahya, the capital of porcelain and ceramic exports, recorded USD 855 million in exports while importing USD 150 million in 2023. Afyonkarahisar, the capital of natural stone, earned USD 631 million in foreign currency for Turkey while keeping imports at USD 107.5 million. Afyon's export-to-import coverage ratio reached 590 percent, making it the record holder among Aegean Region provinces. Uşak, a strong player in textile, carpet and animal products exports, recorded USD 431 million in exports during 2023, with imports at USD 239 million and an export-to-import coverage ratio of 180 percent.

Aegean Region's January exports reach USD 3.3 billion

The Ministry of Commerce released 2024 January export figures by trade activity provinces. Accordingly, the Aegean Region's exports rose by 2 percent from USD 3.240 billion to USD 3.305 billion. Izmir, Manisa, Balıkesir, Aydın, Muğla, Kütahya and Uşak increased their exports compared to January 2023, while Denizli and Afyonkarahisar fell short of their January 2023 performance.

Izmir accounts for 56 percent of Aegean Region exports

Izmir, with USD 1.850 billion in exports, single-handedly achieved 56 percent of Aegean Region exports. Manisa recorded USD 542 million in exports, representing 16.4 percent of the region's export share. Denizli captured 9.5 percent of Aegean Region exports with export revenue of USD 314.5 million. Balıkesir, with export growth of 16 percent, became the export growth leader in the Aegean Region while exceeding USD 202 million in export value. Aydın's exports were recorded at USD 135.4 million, while Muğla's exports rose 6 percent to USD 107.7 million. Kütahya increased exports by 8 percent from USD 65.5 million to USD 70.5 million. Afyonkarahisar's exports declined 10 percent from USD 48 million to USD 43 million, while Uşak's exports reached USD 39.5 million.

Eskinazi: "Aegean Region maintains its exporter identity"

Jak Eskinazi, Coordinator President of Aegean Exporters Associations, describing the USD 42.6 billion in exports from the Aegean Region in 2023 as a major achievement despite global recession and high inflation and weak currency spiral in Turkey's economy, stated that should a favorable climate for exports prevail, Aegean Region exports could easily exceed USD 50 billion. Emphasizing that Aegean Region exports in 2022 reached USD 44.5 billion, Eskinazi said, "Our Treasury and Finance Minister Mehmet Şimşek stated that 'foreign demand is the main determinant of exports and the exchange rate has no significant effect,' but our labour-intensive sectors have reached a point where they cannot meet global demand. If Turkey wants to eliminate income inequality, it must produce and increase exports. Today, the richest 20 percent of the population in our country receives 50 percent of income. The middle class is disappearing, and large segments of our population are rapidly falling into poverty. To stop impoverishment, we need to increase the number of exporters, export volume and average export prices," he said. Emphasizing that they direct the Aegean Region's exports through their projects, Eskinazi added, "In 2024, we aim to bring our exporters together with more importers through sectoral TURQUALITY Projects, URGE Projects, trade fairs, trade delegations and buyer delegations. Sustainability, innovation, design, R&D and vocational training will be other areas we will focus on. Turkey's Medium-Term Program targets USD 302.2 billion in exports by the end of 2026. As the Aegean Region, we aim to contribute USD 52 billion to this target," he concluded.