Turkey’s September Export Figures Surge
Turkey’s exports in September totaled 22.6 billion dollars. The highest September performance of all time was achieved with this figure. Exports climbed by 9.2 percent in September compared to the same month of the previous year. Turkey’s exports totaled 188 billion dollars in the first nine months of the year and 252 billion dollars in the previous twelve months.
Trade Minister Mehmet Muş participated in the conference, which was held in a hotel in Trabzon. He was accompanied by Turkish Exporters Assembly (TIM) President Mustafa Gültepe. At the conference, foreign trade numbers for September were released. Foreign trade volume increased by 26.3 percent to 55 billion 616 million dollars in September, according to information provided. The foreign trade deficit was assessed to be 10 billion 384 million dollars, a 298.3 percent rise. During the same time period, the export-to-import ratio was 68.5 percent.
Minister Muş stated, “In September, our exports climbed by 9.2 percent to 22.6 billion dollars. This is the highest September export figure we’ve ever had. From January to September, our exports increased by 17% to $188.2 billion. Our international trade volume hit 55.6 billion dollars.’’.
The meeting in Trabzon was conducted to assess international trade data and periodic developments. Minister Muş expressed his delight at being in Trabzon on this occasion. Trabzon’s quickly increasing industry and economics play a significant role in the region’s growth. It is also regularly highlighted in tourism.
Muş also underlined that Trabzon has also asserted itself in foreign trade as a city where entrepreneurs who have achieved success throughout the country and the world have arisen. Furthermore, that Trabzon is one of the country’s top 20 exporting provinces. He also stated that following this meeting he would engage with business representatives and undertake consultations.
“The Turkish economy continues to expand significantly.”
Minister Muş discussed the likelihood of a recession, which began to have an impact on many countries. Also, high inflation persisted in the global economy since last year. He continued by claiming that Turkey, despite this negative news, has reached the highest export total in history.
It was emphasized that Turkey is living in a time when numerous difficulties in the global economy are occurring at the same time. Muş added, “As Turkey, we will continue to support every measure that contributes to world solidarity, as we did yesterday, in accordance with our peace-oriented foreign policy principle. The battle on the opposite side of the Black Sea will cease as quickly as possible, particularly in terms of food and energy.’’
‘’Solutions such as the Istanbul Consensus, which has been effectively implemented for two months to reduce its influence on the global economy, particularly on security, have helped to prevent a potential food crisis because the grain corridor serves to soothe markets and restrict food inflation. The Turkish economy eventually managed to register a successful rate of increase of 7.6 percent in the second quarter of 2022, reaching the greatest growth rate of the year. As a result, despite global challenges, our economy continues to grow in a balanced and sustainable manner.” Minister Muş summarized Turkey’s trade and economic actions.
The Export Share of the Manufacturing Industry was 95%
The export-to-import ratio was 68.5 percent in the aforementioned time period. Germany had the highest exports in September, with 2 billion 2 million dollars and an 18.2 percent rise. The United States comes in second with 1 billion 378 million dollars, and Iraq comes in third place with 1 billion 277 million dollars and a 24.3% increase. The top ten countries with the highest percentage of total exports had a 47.6 percent share of total exports.
During this time period, the European Union exported the most goods with 8 billion 901 million dollars, followed by the Near and Middle East countries with 4 billion 144 million dollars. In terms of industries, the manufacturing industry accounted for 95% of September exports. Agriculture, forestry, and fisheries accounted for 2.6 percent, and mining and quarrying amounted to 1.8 percent.
To conclude, despite global crises that greatly impacted other countries, Turkey’s export growth persisted in September. Turkey announced that it had increased its exports to 22.6 billion dollars in September. Turkey’s export figures also reached 252 billion dollars in a 12-month period.
