TİM President Gülle Announces Foreign Trade Figures

TİM Chairman Gülle spoke at a meeting where October foreign trade figures were announced: "In October, our exports reached USD 20.8 billion, marking a 20.2% increase compared to the same month last year. We set a new record for the highest monthly export figure in our history, surpassing the USD 20 billion threshold once again and reaching a new level in exports." "The top 3 countries where our exporters achieved the most exports were Germany with USD 1.7 billion, the United States with USD 1.3 billion, and the United Kingdom with USD 1.2 billion." "In October, exactly 2,477 of our companies joined our family by exporting for the first time this month. Our new companies achieved USD 107 million in exports in October." Turkish Exporters Council (TİM) Chairman İsmail Gülle noted that in October, as the 98th anniversary of the Republic was celebrated, every sector demonstrated successful export performance. "In October, our exports reached USD 20.8 billion, marking a 20.2% increase compared to the same month last year. We set a new record for the highest monthly export figure in our history, surpassing the USD 20 billion threshold once again and reaching a new level in exports," he said. TİM revealed October foreign trade data at a meeting held in Ankara with the participation of Commerce Minister Mehmet Muş. Speaking at the event, Gülle stated: "In October, our exports reached USD 20.8 billion, marking a 20.2% increase compared to the same month last year. We set a new record for the highest monthly export figure in our history, surpassing the USD 20 billion threshold once again and reaching a new level in exports. I am proud to say that despite the negative impact of the calendar, this figure represents our highest export record ever. Along with this record, our January-October exports reached USD 181.8 billion." he said. Noting that in the last 12 months exports reached USD 215.7 billion, already surpassing the annual export target of USD 211 billion, Gülle stated: "We broke export records in 10 out of the last 12 months. We have already achieved our Medium-Term Program target. We have successfully crossed an important milestone toward our year-end goals. Our year-end target was USD 211 billion; the current momentum indicates we will easily exceed this figure and even challenge the USD 220 billion level. We will continue working tirelessly for 'Turkey Rising Through Exports' and realizing all our targets one by one. While achieving USD 50.8 million in exports in our Republic's first year, we succeeded in surpassing USD 1 billion by the 50th year, USD 10 billion by the 64th year, USD 100 billion by the 84th year, and USD 215 billion by the 98th year. We are advancing with confident steps toward our 100th year goal of USD 242 billion in the Medium-Term Program. With current momentum, we hope to reach this figure before the 100th year."

"For us, stable exchange rates mean stable exports"

Referring to exports' contribution to growth, Gülle said: "Our exporters have never supported speculative increases in exchange rates. Our exporters have never had any demands or expectations regarding currency appreciation. For us, stable exchange rates mean stable exports. The figures already clearly show that regardless of the level of the exchange rate, we continue to set export record after record." he said. Regarding growth expectations, Gülle stated: "According to assessments by many international organizations, our country will close the year with 9% growth. Of this growth, 2 percentage points will come directly from exports, 3 percentage points from industrial production increases triggered by exports, and 1 percentage point from new investments boosted by exports. In other words, we are growing through exports, strengthening through exports."

"Automotive sector ranks first, 22 sectors increased exports"

Providing information on sectors' export performance, Gülle said: "A total of 22 sectors increased their exports. Our automotive sector, which achieved USD 2.6 billion in exports, ranked first (down 10.6%), our chemicals sector, reaching USD 2.3 billion, ranked second (up 34.4%), and our steel sector, approaching USD 2.3 billion, ranked third (up 108%). Additionally, we are seeing quite positive momentum in our export unit prices. Our unit export value increased to USD 1.38, marking a 16% increase compared to the same period last year. The sectors that increased their unit export value the most this month were ships and yachts with a 72% increase, steel with a 68% increase, and chemicals with a 33% increase. As our value-added and branded exports increase, the value of our products will rise further. The most notable sectoral increases compared to last year occurred in steel, which increased exports by USD 1.2 billion, chemicals, which increased by USD 591 million, and ferrous and non-ferrous metals, which increased by USD 344 million. Our cereals sector reached its highest record with exports exceeding USD 903 million."

"We demonstrated success in increasing exports to 157 countries"

Gülle emphasized that in October, exports on a volume basis increased 3.3% to 15.1 million tons compared to the same month last year, and in the first 10 months, 144.2 million tons of exports were achieved, marking a 15% increase. Noting that exports in October were made to 217 countries and regions, Gülle said: "We demonstrated success in increasing exports to 157 countries. We set monthly export records in 15 countries, including Italy, Israel, Greece, Senegal, and Canada. The top 3 countries where our exporters achieved the most exports this month were Germany with USD 1.7 billion, the United States with USD 1.3 billion, and the United Kingdom with USD 1.2 billion." Listing the countries with the largest increases in export value, Gülle said: "These were the United States with an increase of USD 341 million, Spain with an increase of USD 267 million, and Italy with an increase of USD 194 million. Looking at country groups, our exports to the EU, our largest market, reached USD 8.6 billion with an 18% increase, accounting for a 41% share. When we combine other European countries outside the EU, the European continent's share in October exports was 55%. In other country groups, we achieved USD 3.6 billion in exports to Middle East and North Africa, USD 2 billion to the entire African continent, USD 1.4 billion to Far East countries, and USD 1.5 billion to North America."

"61 provinces increased exports"

TİM Chairman Gülle noted that 61 provinces increased their exports, saying: "İzmir, Ankara, Mersin, Adana, Çorum, Zonguldak, Aydın, Diyarbakır, and Niğde achieved their highest monthly exports in October. The top 3 provinces that achieved the most exports in October were Istanbul with USD 8.1 billion, Kocaeli with USD 1.6 billion, and Bursa with USD 1.3 billion, respectively. Additionally, the performance of İzmir, which increased exports by USD 250 million, and Hatay, which increased by USD 212 million, was quite noteworthy."

"The number of exporters and exports in Turkish lira are increasing"

Noting that the number of companies saying "hello" to exports and exports conducted in Turkish lira are also increasing, Gülle said: "In October, exactly 2,477 of our companies exported for the first time this month. Our new companies achieved USD 107 million in exports in October. Since the beginning of the year, the number of companies conducting exports has exceeded 87,000. The negative impact on exports from the euro/dollar parity decline last month was USD 180 million. Looking at the year overall, there was a positive impact of USD 3.6 billion. Trade in local currencies is becoming increasingly important every day. According to declarations opened in Turkish lira, a total of TRY 6.6 billion in exports in Turkish lira were conducted to 171 countries. 7,389 of our companies preferred Turkish lira in their export operations. We will continue supporting local currencies in mutual trade."