Türkiye's exports in August reaches $21.3 billion

"Our August exports increased by 13 per cent compared to the same month of the previous year and reached 21.3 billion dollars. This is the highest August export to date," TRT Haber quotes Trade Minister Mehmet Muş as saying. 

Trade Minister Mehmet Muş announced the foreign trade figures for August at the Southeastern Anatolia Exporters Union Meeting Hall with the participation of İsmail Gülle, Chairman of the Turkish Exporters Assembly (TİM).

Muş said that Gaziantep was the country's 5th largest exporter with exports exceeding 10 billion dollars last year.

Stating that the balance sheet of the US Federal Reserve, which reached 9 trillion dollars with the expansionary monetary policies implemented due to the epidemic, started to shrink within the scope of the fight against inflation, Muş said:

"The global economy is expected to follow this trend and the global growth is expected to slow down significantly in the upcoming period. As a matter of fact, the leading indicators for August point to a slowdown above expectations, especially in Europe, as well as the USA, which has shrunk for the last two quarters. The German Central Bank stated in its report published in August that the probability of a recession in Germany is gradually increasing and that inflation will continue to rise. "The possibility of a recession in major export markets is getting stronger. On the other hand, the ongoing war in Ukraine and the increasing tension in Taiwan pose significant risks for the global economy."

Mentioning that 1 million tons of food have entered the global markets safely within the scope of the Grain Corridor Agreement, which is a critical step towards the solution of the global food crisis and managed from the Coordination Center in Istanbul, Muş said, "At the trilateral summit held in Ukraine, our President and President of Ukraine Volodymyr "An agreement was signed in the presence of Zelenskiy to rebuild Ukraine's infrastructure destroyed by the war. The Task Force to be formed within this scope will coordinate the reconstruction of facilities such as roads, bridges, water and electricity infrastructure, hospitals and schools." he said.

Noting that despite the negativities in the global economy, the Turkish economy will continue to grow by getting stronger, Muş continued his speech as follows:

"Our country continued its growth momentum in the second quarter, as it did in the first quarter of 2022, and grew by 7.6 per cent. With the 16.4 per cent increase in our exports of goods and services, the contribution of exports to growth was 3.9 points. More than half of the high growth rate (percentage) 51) originated from exports of goods and services, exports continued to be the driving force of growth, while the contribution of net exports to growth was 2.7 points, thus maintaining its economic growth for 8 uninterrupted quarters, and once again positively differentiated from the world in this field. "

Stating that Türkiye continued the success it achieved in exports in 2021 in 8 months of 2022, Muş continued as follows:

As you know, Türkiye continued the success it achieved in exports in 2021 in the first 8 months of 2022 as well. In August, our exports increased by 13 per cent compared to the same month of the previous year and reached 21.3 billion dollars. This figure is the highest August export to date. A total of 165.6 billion dollars of exports was realized in 8 months of the year. Our foreign trade volume increased to 54 billion dollars in August with an increase of 28 per cent compared to the previous year. Our imports in August were 32.6 billion dollars. dollar, that is, 27 per cent is energy sourced.

Thanking the exporters for their performance, Muş reminded that they put two important and comprehensive support packages into service last month to give the exporters the support they needed.