In November, Turkey's iron and steel exports showed a year-on-year increase due to the base effect arising from the global economic crisis which had started to affect the country's steel exports in October and November 2008. Meanwhile, in the month in question, exports declined as compared to October, in which month exports had recorded a peak value for the previous 11 months.
According to the provisional foreign trade statistics compiled by the Turkish Exporters' Association (TIM), in November this year Turkey's iron and steel exports totaled $912.99 million, increasing by 10.27 percent year on year, but down 16.11 percent over October, while exports of articles of iron or steel increased by 11.85 percent compared to November 2008 and were down 2.62 percent month on month, amounting to a value of $149.33 million.
In the first eleven months of the year, Turkey's iron and steel exports totaled $10.19 billion, down 45.04 percent, while exports of articles of iron or steel amounted to $1.26 billion, down 23.59 percent, both compared to the corresponding period of the previous year.
Turkey's top ten steel export destinations in November 2009:
Country | Volume ($) |
Iraq | 71,622,949 |
UAE | 68,556,659 |
Saudi Arabia | 67,664,279 |
Libya | 56,031,733 |
Algeria | 52,373,527 |
Singapore | 27,981,933 |
Brazil | 25,829,468 |
Iran | 25,708,610 |
Egypt | 22,964,575 |
Ethiopia | 21,395,884 |
