Turkey's February Exports Rose 2.3%

Turkey's Exporters Council (TİM) announced February export figures. Turkey's exports in February 2020 reached USD 14.7 billion, up 2.3% year-on-year. TİM Chairman İsmail Gülle stated, "Our exports, which closed 2019 with USD 180.9 billion, marking a new record in the history of the Turkish Republic, started 2020 at a fast pace. Despite all global and regional developments and uncertainties, we broke the Republic's highest export volume record in the first month of the new year, and in February we reached the Republic's highest February export record, raising the 'Record Bar' to the next level." Turkey's Exporters Council (TİM) released preliminary foreign trade data for February. February exports reached a record USD 14.7 billion, up 2.3% according to the General Trade System (GTS). Exports for the trailing 12 months reached USD 182.1 billion.

We are taking all necessary measures for our exports to weather this period with minimal damage

Commenting on the coronavirus, which has expanded its reach and become a global threat by February, İsmail Gülle said, "The virus has already caused slowdowns in the global economy and trade, as well as disruptions in supply chains. International organizations state that China may face the lowest growth in recent years in 2020. We are working intensively and rapidly on proactive solutions together with our Ministries to ensure the transition of our Turkish export products to markets is uninterrupted. We will continue to take all necessary measures to ensure that our country's exports weather this period with minimal damage."

We are working to increase average export distance by at least 2,000 km

Pointing out that they have implemented initiatives to increase the average distance in exports and expand scale capacity, İsmail Gülle stated: "As Turkey, we operate at an average distance of 2,997 km in our exports. This distance is around 6,500 km on average for countries such as China, Israel, India, Japan, the United States and Vietnam. The world's average import distance is 5,106 km. In order to reach world countries that import from such a broad spectrum, we need to increase our average export distance by at least 2,000 km more. For this reason, TİM, under the coordination of our Ministry, will accelerate the opening of Turkey Logistics Centers starting from the African continent in 2020 and extend Turkey's average export distance to Africa, Latin America and Asia."

1,555 companies joined the export family in February

Detailing February export figures, TİM Chairman Gülle provided the following information: "I am pleased to report that 1,555 of our companies joined the export family for the first time in February. These newly exporting companies achieved USD 127 million in exports in February. Looking at the company level, a total of 39,248 of our companies carried out exports in February. This is a gratifying picture demonstrating that export awareness and the process of spreading exports to the grassroots are being implemented successfully. TİM works with the responsibility and consciousness of this large family. We are implementing next-generation initiatives to develop our capabilities and marketing skills on the path indicated in the Export Master Plan for 'Turkey with a Foreign Trade Surplus.'"

Automotive sector maintained its leadership

February's leader was the Automotive sector with USD 2.52 billion in exports. This was followed by Apparel with USD 1.52 billion in exports and Chemicals with USD 1.51 billion in exports. Seven sectors achieved export growth exceeding 10%. In the first two months of the year, 21 sectors demonstrated success in increasing exports. The strongest performers in February were Ships and Yachts with USD 148 million in exports (up 94.9%), Jewelry reaching USD 372 million (up 49.7%), and Fresh Fruit and Vegetables reaching USD 205 million (up 23.3%). Looking at the number of countries to which sectors exported, Chemicals and Chemical Products ranked first by exporting to 205 countries and regions, Steel and Cereals, Pulses, Oilseeds and Products ranked second with 187 countries, and Electrical-Electronics ranked third with 185 countries.

Export growth was achieved in 13 of the top 20 export markets

In February, exporters succeeded in flying the Turkish flag in 207 countries and regions. While exports increased to 122 of these countries, growth exceeded 10% in 80 countries and exceeded 50% in 38 countries. The top 3 countries by export volume were Germany with USD 1.3 billion, Iraq with USD 906 million and the United Kingdom with USD 856 million. The top 10 countries accounted for 48.9% of exports, while the top 20 countries accounted for 67.1%. Export growth was achieved in 13 of the top 20 export markets. Export growth exceeded 10% in 5 countries. The European Union, the largest market, accounted for 48.1% of exports in February.

The most remarkable growth was seen in Kastamonu with 84.3%

Looking at provincial exports, 45 provinces increased their exports in February. The top 3 exporting provinces were Istanbul with USD 5.8 billion, Bursa with USD 1.3 billion and Kocaeli with USD 1.1 billion, respectively. The most remarkable growth was seen in Kastamonu, which achieved exports of USD 21.9 million (up 84.3%), Yalova reaching USD 63.2 million (up 75.3%), and Çorum with USD 33.9 million in exports (up 55.7%). While the Jewelry sector in Çorum increased exports by over 100%, the Ships and Yachts sector stood out in Yalova.

Exports to 177 countries totaled TRY 4.2 billion

Throughout the month, Turkish Lira was used in exports to 172 countries, with a total of TRY 4.2 billion. 6,251 companies preferred Turkish Lira in their February declarations.

The negative effect of parity decreased by 55%

On a volume basis, February exports reached 12.1 million tonnes, up 8.1%. Finally, the negative impact of the euro-dollar parity in February was USD 271 million. The negative effect of parity in February 2019 was USD 496 million. In 2020, the negative effect of parity decreased significantly by 55%.