Turkey again posts high export figures due to iron exports
Turkey's November exports rose by 45.3% to $5.83 billion. According to the Turkish Exporters Association (TIM) data, exports reached $57.34 billion in the first eleven months of the year, revealing an increase of 33.5% compared to the same period of last year.
As of November, 12-month exports were also up by 34.8% and reached $62.27 billion. November exports recorded the highest monthly level in the last three years.
TIM President Oguz Satici stated that exporters are following the appreciation of Turkish Lira against the euro and dollar instead of euro/dollar parity. Currently, Turkish Lira is 30% more valuable over against euro and dollar. As a result, while exports are increasing, costs are rising and profits are decreasing, he said.
The highest export increase was recorded in iron and non-ferrous metals exports with 109.9%. Industrial products exports amounted to $4.9 billion in November with a rise of 48.2% compared to the same period of last year.
In the first eleven months of the year, Turkish
automotive sector exports reached $9.46 billion with a rise of 47%. With this figure, sector exceeded the 2003
automotive exports by $2.27 billion.
According to the Uludag Exporters Association (UIB), passenger car exports took the first place with $3.52 billion and this is followed by subsidiary industry with $2.73 billion and carrier motor vehicles with $1.92 billion.