EU countries account for approximately 42 percent of Turkey's exports

Turkish Exporters Assembly (TİM) President Mustafa Gültepe stated that, according to General Trade System (GTS) data, Turkey's exports to European Union (EU) countries in the January-September period of this year increased by 3.1 percent to 80.4 billion dollars, adding, "Thus, the EU's share in our exports for the 9-month period was 41.7 percent."

In his assessment to journalists, Mustafa Gültepe noted that approximately 78 billion dollars in exports were made to EU countries in the January-September period of last year.

Noting that while the 9-month performance this year is higher than last year, it remains below expectations, Gültepe said, "The challenges we face in global competition and the contraction linked to tightening policies in the EU have been effective in keeping the growth in our exports limited. According to General Trade System data, in the January-September period of this year, Turkey's exports to EU countries increased by 3.1 percent to 80.4 billion dollars. Thus, the EU's share in our exports for the 9-month period was 41.7 percent."

Gültepe stated that while a decrease was observed in exports to 10 countries in the EU, there was an increase in 16 countries, adding that in terms of value, the highest increase was to the Netherlands with 736 million dollars.

Stating that Germany ranks first in exports to the EU, Gültepe remarked, "Our exports to our largest partner, Germany, decreased by 3.7 percent to 15.3 billion dollars. Germany is followed by Italy with 9.4 billion dollars, Spain with 7.4 billion dollars, France with 7.2 billion dollars, and the Netherlands with 6.4 billion dollars."

STEEL WAS THE SECTOR WITH THE HIGHEST INCREASE IN EXPORTS BY VALUE

Mustafa Gültepe said that as of this year, they have observed significant increases and decreases on a sectoral basis in Turkey's exports to EU countries.

Noting that the sector with the highest increase in exports by value was steel with an increase of 1.2 billion dollars, Gültepe said, "Steel reached 5.1 billion dollars in exports in the first 9 months of this year. Apart from this, significant increases were experienced in the chemical substances, automotive, and hazelnut and products sectors."

Gültepe pointed out that the sector with the highest exports to the EU was automotive with 18 billion dollars, adding, "Automotive was followed by chemical substances with 10 billion dollars, ready-to-wear and apparel with 8.4 billion dollars, electrical and electronics with 5.5 billion dollars, and the steel sector with 5.1 billion dollars."

Underlining that there were notable declines in some sectors, Gültepe said, "Exports in the olive and olive oil sector fell to 226.7 million dollars with a major decline of 39.5 percent. While the leather and leather products sector fell from 555.2 million dollars to 476.5 million dollars, the ready-to-wear and apparel sector fell from 8.9 billion dollars to 8.4 billion dollars."

News Source: 12punto