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Turkey’s automotive sector remains its top performing industry, posting an 8.2% increase in exports last month. Its October sales of $2.2 bn helped prop up the country’s export total for the month , which stood at $11.727 bn – 4.9% down on the same period last year.
The October 2016 figures were released by the Turkish Exporters' Assembly (TİM) at a press conference in the Ford factory at Kocaeli, western Turkey.
The first ten months of 2016 recorded a 3.1% dip in exports to $115.952 bn, better than expected given Turkey’s difficult trade conditions: battling terrorism, multiple conflicts on its borders, Russia’s economic boycott, which ended last month, and the attempted coup attempt in July and ensuing state of emergency.
Garments and apparels also did well, posting monthly export figures of $1.4 bn in October. They helped Turkey grow its exports in 102 countries. Among the largest export increases were to the USA, up 12.8%, China (up 23.7%), and Bulgaria (up 61.7%). While politically relations between Ankara and Brussels remains strained, the EU remains Turkey’s most important market, accounting for 49.6% of all its exports in October 2016. The figures show a 4.7% downturn compared to last year, whereas exports to the Far East increased by 35.8% last month.‘EU remains Turkey’s most important market, accounting for 49.6% of all exports’
