ANKARA: Turkey’s exports increased slightly in February compared to the same month last year, after 14 straight months of decline, the Turkey Exporters’ Assembly (TIM) reported on March 1.
Exports totaled $10.8 billion last month, an increase of 3.1 percent year-on-year. However exports amounted to $20.4 billion in the first two months of the year, a decline of 16.9 percent compared to the same period in 2015, according to TIM. Turkey’s exports were badly affected by dramatic fluctuations in euro-dollar parity, it added.
“The negative effect of euro-dollar parity was around $128 million over exports in January,” the assembly said. Turkey’s total exports over the last 12 months stood at $139.7 billion, down by 10.8 percent compared with the previous 12 months.
The largest volume of exports in February was made by Turkey’s automotive industry with almost $2 billion worth of exports, followed by the ready-made clothing sector with $1.42 billion and the chemical materials and products sector with $1.14 billion, according to the TIM data. Germany, Italy, France, the U.K. and Iraq were the largest export markets for Turkey in February.
The country’s exports to Italy increased by 15.7 percent, to Germany by 13.1 percent and to France by 12 percent in January compared to the same month in 2015. Turkish exports to Iraq declined by 5.8 percent. The largest increase in the country’s exports among the top 30 markets was seen in Ukraine with an increase of 47 percent, followed by Egypt with an increase of 46.7 percent and Greece with an increase of 40 percent.
