New January-July Export Rates Skyrocket in Agricultural Products
In the first seven months of 2022, the agricultural group realized exports worth 18 billion 790 million dollars. With this export rate, agricultural products broke the record by carrying out the highest January-July export in the history of the Republic.
According to the data shared by the Turkish Exporters Assembly (TIM), Turkey’s exports increased by 19.1% in the first seven months of 2022 compared to the same period of 2021. Also, foreign exchange inflow reached 144 billion 416 million dollars.
Importance of Agricultural Products in Export
In the first seven months of 2022, exports worth 18 billion 790 million dollars were realized in the agricultural group. This rate was a remarkable success as the highest January-July export in the history of the Republic. Turkey’s agricultural exports increased by 20,4% in the seven months of the year compared to the same period of the previous year. The ratio of agricultural products exports to total exports was 13%.
One of the most important reasons for the increase in export rates for agricultural products was the Russia-Ukraine War. Negative events stemming from the Russia-Ukraine War and disruptions in supply chains adversely affected the export of agricultural products. As a matter of fact, Turkey, which has an important role in the agricultural sector, increased its export rate in the agricultural sector with bilateral agreements to close the gap in the market.
Records Broken in Exports of Five Sectors
In the January-July period, cereals, pulses, oilseeds, and their products exported 6.3 billion dollars and fruit and vegetable products exported 1.3 billion dollars. Dried fruits and products exported 829.8 million dollars and aquaculture and animal products exported 2.4 billion dollars. Lastly, furniture, and paper and forest products made the highest January-July exports of all time with 4.7 billion dollars.
Compared to the same period of the previous year, in the first seven months of the year in 2022, cereals, pulses, oilseeds, and products exports increased by 31.4%. Fruit and vegetable products exports increased by 20.9%, dried fruits, and products by 9.8% and water and animal products by 32.1%. Finally, furniture, paper, and forestry products exports increased by 27.3%.
Provinces with the Most Exports
When the data are analyzed based on provinces, it is observed that the most exports in agriculture sub-sectors are realized by companies based in Istanbul. While Istanbul-based companies stood out in cereals, aquaculture and animal products, furniture, paper, forest products, and fruit-vegetable products, Izmir-based companies ranked high in dried fruits and products.
Among the top five exporting cities in July 2022, are Istanbul, Kocaeli, Izmir, Bursa, and Ankara.
The Most Demand for Agricultural Products Came From Iraq
Iraq was the country with the highest demand for agricultural products, which is a record-breaking sector in exports. Therefore, Iraq retained its leading market position in Turkey’s agricultural exports. Exports to Iraq amounted to 1.3 billion dollars in cereals, pulses, oilseeds, and their products, 455.1 million dollars in water and animal products, and 553.2 million dollars in furniture, paper, and forest products.
A significant increase was observed in the sectors exported to Iraq compared to the same period of the previous year. Grains, pulses, oil seeds, and their products increased by 61.6%, water and animal products increased by 63.3%, and furniture, paper, and forest products increased by 8.4%.
Another country that is as important as Iraq in Turkey’s exports is the USA market. In the first seven months of 2022, exports of fruit and vegetable products amounting to 198.4 million dollars were made to the USA. Exports to the USA in the fruit and vegetable products sector increased by 48%. Dried fruits and products were exported to Germany with a gain of 108.5 million dollars.
Export Rates for July 2022
Turkish Exporters Assembly (TIM) shared the data for July 2022. An increase of 13.4% was observed in exports compared to the same period of the previous year. On the other hand, exports of 18.6 billion dollars were realized.
In July, Turkey exported to 217 countries and regions, delivering Turkish-made products all over the world. In addition, the rate of exports to 147 countries and regions increased. Germany was the country with the highest amount of exports at 1.49 billion dollars. Germany was followed by the United States with 1.32 billion dollars. Finally, the United Kingdom came with 1.02 billion dollars.
The export share of the top ten countries was recorded as 47.2%.
Exports to the EU countries have a 7.35 billion dollar value. Exports increased by 5.2% compared to the same period of the previous year. On the other hand, exports to the Middle East increased by 19.3% to 3.13 dollar billion.
In July, the sector with the highest exports was chemicals and products. Also, the exports of this sector increased by 51.4% compared to the same period of the previous year. The chemicals and products sector was followed by the automotive and garment sector.
