On January 2, the Turkish Exporters' Association (TIM) revealed that in 2012 Turkey's total export value amounted to $151.86 billion, up 12.57 percent year on year, hitting an all-time annual record since the establishment of the Republic of Turkey. The TIM forecasts a total export value of $160 billion in 2013.
In 2012, Turkey's motor vehicle sector had the highest export value of the country's industrial sectors with $19 billion, down 5.26 percent compared to 2011, while Turkey's steel export value came to $15.56 billion, rising by 1.7 percent as compared to the previous year.
On the other hand, in December 2012 the value of Turkey's motor vehicle exports was $1.64 billion, down 5.5 percent year on year, while Turkey's steel exports totaled $1.26 billion in value, decreasing by 9.9 percent year on year and up 6.4 percent as compared to the previous month, according to the provisional foreign trade statistics.
Turkey's top 10 steel export destinations in 2012:
Country | Export value (x $1 million) |
Germany | 12,316 |
Iraq | 10,757 |
UK | 7,941 |
Russia | 6,748 |
Italy | 6,344 |
France | 6,321 |
USA | 5,478 |
Saudi Arabia | 3,756 |
Spain | 3,745 |
Egypt | 3,706 |