Machine Exports to the U.S. Rise by $700 Million

In July, the machinery sector increased its exports by 21.2 percent compared to the same period of the previous year, bringing total exports to USD 9.8 billion. The sector, which managed to increase its market share in all developed countries, achieved its highest exports to Germany, the United States and the United Kingdom. Turkish machinery, which attracts great interest in the United States where protectionist policies are being used to control imports, managed to increase its exports to the US by 28.7 percent. MAİB Chairman Kutlu Karavelioğlu, stating that the machinery sector will continue to increase its market share in the US market where it achieves USD 100 million in exports each month, said the following: "Expanding protectionist policies in the United States directly affect all sectors that want to do business in that country, but the country, where industrial production is achieving 6 percent annual growth, is also providing new commercial opportunities for strategic sectors like machinery. Turkish machinery has an important buyer in the US market thanks to its increasing quality. During this period, our exports of turbines, turbojets, turboprops and hydraulic cylinders to the US increased by 1.5 times, while exports of motors, parts and components doubled."

"Our Industrialists Should Not Search Abroad for Goods That the US Imports From Turkey"

Karavelioğlu, also referring to the Provisional Foreign Trade Data announced by the Ministry of Trade, said: "The increase in the ratio of exports covering imports in the Turkish economy to 70 percent in July was very positive data. We need to improve this picture, which has resulted in a significant reduction in the foreign trade deficit. According to TURKSTAT data, the product group with the highest exports in July is machinery and components, after automotive and components. However, machinery and components is also the second product group we import the most after petroleum and petroleum products. It is not the right approach to import equivalents of the quality products we sell. Our industrialists should not search abroad for goods that the US imports from Turkey. Turkey needs to use domestic machinery, grow by producing more and exporting more."