Turkey’s exports keep on increasing
With its $5.9 billion worth of exports in October, $51.5 billion in the first ten months of 2004, and $60.4 billion in the last 12-month period, Turkey has broken several export records. Monthly exports reached $5.9 billion in October with a rise of 20.4% and are expected to exceed $6 billion level in the coming months. According to Turkish Exporters Association (TIM) data, exports amounted to $51.5 billion in Jan-Oct period with a rise of 32.3% and reached $60.4 billion in 12-month period with a rise of 31.8%. In October, industrial sector exports rose by 23.8% to $5.2 billion. Ready-to-wear and apparel exports, which have the biggest share among the industrial products, reached $1.1 billion with 3% increase while exports of motor vehicles and subsidiary industry products rose by 34.3% to $939.4 million. In October, the highest export increase was recorded in iron and non-ferrous metal with 68.1%, tobacco with 36.3%, mining products with 34%, electrical-electronic with 26.3% and machine and parts with 25.6%. Turkey's exports to Germany, which is Turkey's biggest export market, amounted to $7.3 billion in the first ten months. England followed Germany with $4.4 billion, the US with $3.9 billion, Italy with $3.8 billion and France with around $3 billion.