Exports Continued to Rise in October

Turkey's Exporters Council announces October export figures in Denizli The Turkey Exporters Council (TİM) announced that Turkey's exports in October 2019 reached USD 16.336 billion. TİM Chairman İsmail Gülle said, "Despite the challenging period global trade is going through in 2019, Turkey is charting a positive course in exports. In the recent period, following our Operation Olive Branch, our exports have maintained their successful trajectory despite sanctions threats directed at our country. Thanks to the dynamism and strategic decisions of our exporters, our exports continue to show growth above our competitors through correct market positioning. Under the leadership of our Minister, the initiatives and digitalization steps implemented in our exports are laying the groundwork for records. With greater effort and awareness of value-added production, we will easily exceed our 2023 export target of USD 226.6 billion" he said. The Turkey Exporters Council (TİM), with the participation of Trade Minister Ruhsar Pekcan, announced October provisional foreign trade data in Denizli at the "TİM Denizli Council," the sixth of TİM's open communication platforms at the regional level. In October, exports reached USD 16.336 billion according to the General Trade System (GTS). In the first 10 months of the year, exports rose 2.1 percent to USD 149 billion, while exports over the last 12 months reached USD 180 billion.

Our Exports Show Growth

İsmail Gülle stated that despite the negative effects of global trade wars and economic-political developments since the beginning of the year, exports have maintained their expected positive monthly performance, saying: "Despite the challenging period global trade is going through in 2019, Turkey is charting a positive course in exports. In the recent period, following our Operation Olive Branch, our exports have maintained their successful trajectory despite sanctions threats directed at our country. When we compare ourselves with our competitors and target markets, the export performance displayed by countries in 2019 further highlights our country's success. Among countries that announced their first 8-month export data for 2019, South Korea's exports have declined 9.6 percent. In the United Kingdom, the decline is 5.9 percent, in Germany 5.6 percent, in Spain 4.7 percent, while South Africa is experiencing a 5 percent export contraction. Global giant China achieved only a limited 0.3 percent export growth. Our country, in its first 8 months, achieved a 2.9 percent growth rate. Therefore, thanks to the dynamism and strategic decisions of our exporters, our exports continue to show growth above our competitors through correct market positioning.

Our Export Family, which stands at the focus of sustainable economic development, continues to grow with each passing day. For the first time in 13 years, the number of exporting companies has surpassed importers. While we had 79,773 importers in 2018, our number of exporters rose to 83,286.

Under the leadership of our Minister, the initiatives and digitalization steps implemented in our exports are laying the groundwork for records. To reach much more successful figures, access to financing options for our companies is of critical importance. Recent developments announced by our Treasury and Finance Minister, the reduction of interest rates to the 11-14 band as of 1 November, and steps such as credits provided for additional employment are gratifying developments, particularly for improving the investment climate. Especially in the face of rising input costs, our Government's not abandoning its balancing exchange rate policy is one of the most important priorities for our exporters," he said. Under the leadership of Minister Pekcan, noting that as TİM and exporter unions they are focusing both on concentrating in target markets in line with the "Export Master Plan" and continuously carrying out projects and training that will increase the Export Family to 1 million members, Gülle said: "With digital transformation awareness, we will facilitate our logistics and financial processes and take our supply system to target markets like the USA to a higher level. In particular, in terms of high-technology intensity, we must accept the targeted 5.8 percent share as one of our most important objectives both in terms of competitiveness and our country's brand value. As TİM, the projects, training and innovation-focused work we have undertaken throughout all 7 regions of our country are the clearest indication of the importance we attach to increasing the share of high-technology exports. Our responsibility as exporters is, in line with the Export Master Plan announced by our Ministry, to implement strategies targeting the highlighted objectives in the field in the best possible way, ensuring the best returns for both our exporters and our country's economy in a sustainable manner. With greater effort and awareness of value-added production, we will easily exceed our 2023 export target of USD 226.6 billion," he said.