Turkey’s export growth loses momentum
Data released by Turkish Exporters Assembly (TIM) show that
Turkey's exports rose only 1.1 percent year on year to $5.7 billion in July due to the appreciation of Turkish currency, rising costs and banking policies.
Exports totaled $41.69 billion for the first seven months of the year, up 17.17 percent year on year. Exports over the past 12 months rose 22.87 percent to $70.46 billion.
Industrial sector exports, which accounts for more than 86 percent of the
Turkey's exports, fell 1.1 percent to $4.95 billion last month. This represents the first decrease, except February 2002, since 2001.