Aegean Exporters' Association Sees Export Growth Above Average

Aegean Exporters' Unions Post Above-Average Export Growth

Turkey reached its highest monthly export figure on record in January with USD 17.6 billion, a 17% increase. The Aegean Exporters' Unions contributed to this record by increasing their exports by 29%, reaching USD 1.372 billion.

In January, the Aegean Exporters' Unions achieved USD 1.372 billion in exports, with industrial products accounting for USD 811 million with a 32% increase, and agricultural products representing USD 473 million with a 27% increase. Aegean mining exporters generated USD 87 million in foreign exchange with a 16% increase.

 

The Aegean Olive and Olive Oil Exporters' Union reached January's highest export growth rate at 245%, achieving USD 26 million in exports.

The Aegean Ferrous and Non-Ferrous Metals Exporters' Union increased its exports to USD 209 million in January with an 83% growth rate.

The Aegean Ready-Made Clothing and Apparel Exporters' Union achieved an 8% increase, accounting for USD 129 million, making it the second-largest exporting union.

The Aegean Aquatic Products and Animal Products Exporters' Union, which recorded the highest exports among agricultural and food unions, closed January with a 28% increase and USD 109 million.

The Aegean Fresh Fruit and Vegetable Exporters' Union achieved a 22% increase with USD 92 million in January, while the Aegean Mining Exporters' Union increased exports by 16% to USD 87 million.

The Aegean Grains, Legumes, Oilseeds and Products Exporters' Union saw January exports grow 65%, the Aegean Furniture, Paper and Forest Products Exporters' Union recorded growth of 27%, and the Aegean Dried Fruit and Products Exporters' Union advanced by 11% to USD 63 million.

The Aegean Textiles and Raw Materials Exporters' Union increased its exports by 6% to USD 30 million.

The Aegean Leather and Leather Products Exporters' Union achieved USD 15 million in exports with a 16% increase.

As Aegean Exporters' Unions, We Increased Our Exports by 29%

Jak Eskinazi, Coordinator President of the Aegean Exporters' Unions: "While Turkey's exports in January showed a 17% increase, the Aegean Exporters' Unions increased their exports by 29%. Our export growth is above the country average. The ratio of imports to exports coverage in the first month of 2022 stood at 62.8%. Imports rose 55% in January to USD 28 billion. The trade deficit reached USD 10.4 billion. This increase signals that imports are raising alarm and production is becoming difficult in Turkey. These ratios further increase exports' dependence on imports.

 

We need to increase our exports through domestic production. We have been expressing our expectation that barriers to financing access for our exporters must be removed on every platform for two months. The Central Bank needs to resolve the congestion in rediscount credits. For new export-oriented investments, medium and long-term rediscount credits from CBRT should be reoffered to exporters and increased. While the Central Bank's policy rate stands at 14%, banks are extending credit at 30-35%. As Aegean Exporters' Unions that held the 2023 target at 2021 levels, our greatest wish is for this rate to be updated to a level exporters can afford and for measures to be taken to ease the burden on exporters," he said.

Exports from Aegean Region provinces reached USD 2.082 billion in January. Izmir, ranked among Turkey's top exporting provinces, achieved USD 1.104 billion in exports in January.

Manisa USD 339 million, Denizli USD 351 million, Aydın USD 67 million, Balıkesir USD 62 million, Muğla USD 59 million, Kütahya USD 37 million, Uşak USD 33 million, Afyonkarahisar USD 30 million in exports.