Export Figures for July Mark a First

The Turkish Exporters Assembly (TİM) announced Turkey's export figures for July. Despite the holiday period reducing the number of working days, July exports reached USD 16.413 billion, representing a 10.2% increase compared to the same month last year. This figure also marks the highest July export in the history of the Republic. The export family exceeded USD 200 billion for the first time in the last 12 months, making history with USD 201.046 billion. On 16 July, a daily export record of USD 1.5 billion was set. Last month, 18 sectors increased their exports, with the Automotive sector taking first place with USD 2 billion in exports. The Steel sector achieved the most notable increase, raising exports by USD 709 million compared to the previous year. Exporters, waving the Turkish flag in 213 countries and regions, demonstrated success in increasing exports to 128 countries. Monthly export records were set in 7 countries, including Greece and Portugal. The Automotive sector increased exports to the United Kingdom by 63%. The Steel sector tripled exports to Italy. Istanbul's Chemical Substances sector exports to Greece increased sevenfold, reaching USD 80 million. 52 provinces increased their exports; according to declarations opened in Turkish lira, total exports of TRY 4.6 billion were made to 173 countries. The number of companies exporting for the first time since the beginning of the year reached 10,598. TİM Chairman İsmail Gülle stated: "For the last 14 years, our exports have been at the USD 100 billion level. For the first time, we have exceeded USD 200 billion in 12 months. Thus, we have succeeded not only in surpassing our 2021 target of USD 184 billion, but also our 2022 target of USD 198 billion. Now we have set our sights on the 2023 target. Current momentum shows us that within 5 years at most, we will all reach USD 300 billion in exports together. We have more than sufficient infrastructure and experience to achieve this. In this sense, today marks the crossing of a critical threshold for Turkish exports. Today is an important turning point in Turkish exports. The strong growth in our exports will bring our country to a strong growth figure in the second quarter and further reduce the current account deficit," he said. Turkish exporters, the field workers of Turkey's economy and trade diplomacy, continue to break export records every month despite reduced demand in global trade due to the pandemic and contractions in world economies. In the first half of 2021, the export family set all-time records in the second quarter and closed July with records, achieving a historic success with the last 12 months of export figures.

USD 201.046 billion in exports over 12 months

The Turkish Exporters Assembly (TİM), the umbrella organization of 61 Exporter Associations, 27 sectors and 100,000 exporters, working toward the goal of "Turkey with Foreign Trade Surplus," announced the foreign trade data for July at a meeting held in Ankara with the participation of Trade Minister Mehmet Muş. According to the General Trade System (GTS), July exports reached USD 16.413 billion with a 10.2% increase compared to the same month of the previous year, despite holiday and weekend breaks reducing the number of working days, setting an all-time July export record. According to the last 12 months' figures, the export family exceeded USD 200 billion for the first time, making history with USD 201.046 billion.

"Through afforestation efforts, we will breathe life into the future"

At the meeting, TİM Chairman İsmail Gülle began his remarks by expressing his sorrow about the forest fires and floods that occurred: "I extend my condolences to all citizens affected by these disasters. As the field workers bringing the values of this country to the world, we are in the field today as well. Through the afforestation effort we have launched to reforest our green homeland, we will breathe life into the future. God willing, we will restore green cover to all affected regions and carry them forward with confidence to tomorrow. Our export figures became an important source of motivation during this difficult period our country is experiencing," he said.

"Today marks an important turning point in Turkish exports"

Evaluating the July figures, Gülle continued: "After the first 6 months our export family closed with records, last month also showed historic performance. For the last 14 years, our exports have been at the USD 100 billion level, and for the first time in history, we have exceeded USD 200 billion in 12 months. Our country, which is a 'reliable supplier port' in global trade, will continue to maintain its upward momentum with the end of the pandemic period and the transformation in supply chains. Current momentum shows us that within 5 years at most, we will all reach USD 300 billion in exports together. We have more than sufficient infrastructure and experience to achieve this. In this sense, today marks the crossing of a critical threshold for Turkish exports. Today is the day we are harvesting the fruits of projects we successfully completed during the pandemic period and before. This day belongs to the exporter who, even in the most difficult times, produces for this country, leaving not a single country or region in the world where we have not set foot. In July, our exports reached USD 16.413 billion, a 10.2% increase compared to the same month of the previous year. In the first 7 months of the year, our exports reached USD 121.358 billion with a 35% increase," he stated.

"The number of companies exporting for the first time in 7 months exceeded 10,000"

TİM Chairman Gülle noted that the interest in exports in every corner of Anatolia was reflected in the number of exporting companies in July, continuing as follows: Of course, for these successes to be permanent, we need to expand our export family further. Because according to us, exports should not be the affair of only a certain segment or class; it should be the vision of all our companies, large and small, with the aim of comprehensive development. In line with this vision, we brought our TİM SME export drive to Diyarbakır this month, meeting with our Diyarbakır exporters and prospective exporters. Exactly 1,273 of our companies joined our family by exporting for the first time this month. These companies generated USD 53.6 million in exports. The number of companies exporting for the first time since the beginning of the year reached 10,598.

Automotive sector increased exports to the United Kingdom by 63%

Noting that 18 sectors increased their exports in July, Gülle stated: "This month, our Automotive sector, which generated USD 2 billion in exports, took first place. Chemical Substances reached USD 1.9 billion in second place, and Steel reaching USD 1.7 billion came in third. Ready-to-Wear reaching USD 1.7 billion came fourth, and our Electrical Electronics sector with USD 1 billion in exports came fifth. In terms of sectors, the most notable increases occurred in Steel, which increased exports by USD 709 million compared to the previous year, Chemical Substances increasing by USD 339 million, Ferrous and Non-Ferrous Metals increasing by USD 176 million, Jewelry increasing by USD 109 million, and Mining sectors increasing by USD 105 million. Furthermore, this month, our Automotive sector increased exports to the United Kingdom by 63%. With an increase of USD 90 million, it achieved USD 233.3 million in exports to the United Kingdom. Our Chemical Substances and Products sector quadrupled exports to Greece, achieving USD 113 million in exports with an increase of USD 89 million. Similarly, our Steel sector tripled exports to Italy, achieving USD 109 million in exports with an increase of USD 79 million. Looking at details; Istanbul's Chemical Substances sector exports to Greece increased sevenfold, reaching USD 80 million. Gaziantep's Cereals sector exports to Iran increased fivefold, reaching USD 52 million. Bursa's Steel sector exports to Canada increased by 28 times, reaching USD 40 million. In July, our exporters waved our country's flag in 213 countries and regions. We demonstrated success in increasing exports to 128 countries," he said.

Monthly export records set for Greece and Portugal

Noting that the top 3 countries with the most exports were Germany with USD 1.4 billion, the United States with USD 1 billion, and the United Kingdom with USD 983 million, Gülle stated: "Monthly export records were set for 7 countries, including Greece and Portugal. The countries where we increased exports the most in value terms were Italy (USD 171 million increase), Spain (USD 155 million increase), and the United Arab Emirates (USD 141 million increase)," he said.

Europe's share in exports: 57.1%

Noting that exports to the European Union (EU-27) increased by 13%, reaching a volume of USD 7 billion, Gülle stated: When we also add other European countries outside the EU, Europe's continent's share in our July exports is 57.1%. In other country groups, we achieved USD 2.6 billion in exports to Near and Middle Eastern countries, USD 1.4 billion to the entire African continent, USD 1.3 billion to the Far East, and USD 1.2 billion to North America.

52 provinces increased their exports

In July, 52 provinces increased their exports. The top 3 provinces with the most exports were Istanbul with USD 6.8 billion, Kocaeli with USD 1.3 billion, and Izmir with USD 940 million. The most notable increases occurred in Istanbul (USD 786 million), Kocaeli (USD 408 million), Hatay (USD 91 million), Izmir (USD 69 million), and Çorum (USD 62 million).

Exports in TL to 173 countries

According to declarations opened in Turkish lira, total exports of TRY 4.6 billion were made to 173 countries. 6,463 companies preferred Turkish Lira in their export transactions. TİM will continue to support the use of local currencies in bilateral trade. Also in July, our exports on a quantity basis increased by 9.7% compared to the same month of the previous year, reaching 14.2 million tons. In the first 7 months, over 99 million tons of exports were made with a 17.4% increase. The Euro/Dollar parity, which has been in an upward trend since the second half of 2020, had a positive impact on exports this month as well. The positive effect of the parity increase in July was USD 208 million; in the first seven months of the year it was USD 3.9 billion. The positive outlook in the Euro/Dollar parity is expected to continue in the coming months.