Aegean Exporters' Associations Boost Exports

Aegean Exporters Associations (EİB) increased its July exports by 7% to USD 1.462 billion. EİB's exports for the January-July period of 2023 reached USD 10.660 billion, while exports over the past 12 months rose by 1.4% to USD 18.302 billion.

Turkey's July exports reached USD 20.093 billion with an 8.4% increase.

Of the 12 exporter associations operating under the Aegean Exporters Associations umbrella, 9 exceeded their performance targets, while 3 fell behind last year's export figures. The Aegean Iron and Non-Ferrous Metals Exporters Association, with USD 189 million in exports, maintained its top position with a 14% export increase, followed by the Aegean Aquatic Products and Animal Products Exporters Association with USD 127 million in foreign currency earnings, and the Aegean Ready-made Garments and Apparel Exporters Association ranking third with USD 116 million in exports. The Aegean Olive and Olive Oil Exporters Association, which set export records every month in 2023, showed the highest growth in the sector, increasing its first-half exports by 242% to USD 60 million. The Aegean Fresh Fruits and Vegetables Exporters Association closed out July with a 22% increase, posting USD 103 million in exports. The Aegean Mining Exporters Association achieved USD 93 million in exports in July with a 7% increase. The Aegean Tobacco Exporters Association increased its exports by 63% to USD 85 million. The Aegean Cereals, Legumes, Oilseeds and Products Exporters Association saw its exports decline to USD 77 million. The Aegean Furniture, Paper and Forest Products Exporters Association recorded USD 65 million in exports in July with a 6% export growth rate. The Aegean Dried Fruits and Products Exporters Association, which dominates the export of seedless raisins, dried apricots and dried figs—products in which we are world leaders—increased its exports to USD 63 million in July 2023 with a 49% increase. The Aegean Textiles and Raw Materials Exporters Association succeeded in earning USD 34 million in foreign currency for Turkey in July with 37% momentum. The Aegean Leather and Leather Products Exporters Association increased its exports to USD 15 million with a 1.5% export increase.

We expect exchange rates to continue adjusting in line with inflation

Aegean Exporters Associations Coordinator Chairman Jak Eskinazi made the following remarks on the subject: "We made a good start to the second half of 2023. Exchange rates have reached more competitive levels. We expect exchange rates to continue adjusting in line with inflation. We view favorably the five-fold increase in rediscount credit limits. Our hopes are rising to maintain current levels in the second half of 2023. I want to emphasize that the olive oil export ban decision is misguided, especially for producers and exporters. These ban decisions put Turkey in the position of a spot market country. After three bans over the past 2.5 years, we have seen that domestic consumption of olive oil has not increased."

EİB's agricultural products exports heading toward USD 8 billion

Chairman Eskinazi, noting that industrial products exports from the Aegean Exporters Associations reached USD 784 million, stated: "Our agricultural sectors' exports rose by 16% to USD 584 million. Our agricultural sectors are consistently performing above the average export growth rate in 2023. If our agricultural sectors maintain this momentum, the exports that reached USD 7.288 billion with a 14% increase over the past 12 months will be brought to USD 8 billion by the end of 2023." he said.

Aegean Region's exports reached USD 2.429 billion

The Aegean Region increased its July 2023 exports by 8% to USD 2.429 billion. İzmir contributed USD 1.316 billion to Aegean Region exports, with USD 238 million of this coming from the Aegean Free Zone and İzmir Free Zone. In July 2023, Manisa delivered USD 425 million in performance, while Denizli followed with USD 352 million in exports. Muğla advanced its exports to USD 98 million, securing the fourth position among Aegean Region provinces. Balıkesir contributed USD 94 million to Aegean Region exports. Among Aegean Region provinces, Aydın exported USD 61 million, Kütahya USD 31 million, while Afyonkarahisar exported USD 27 million, and Uşak recorded USD 20 million in exports in July.