Turkish exporters eyes $170-175B export volume
The Turkish Exporters’ Assembly (TIM) aims for Turkey’s exports to surpass the medium-term program’s $169 billion target in 2018 to reach $170-175 billion, the chairman said on Monday.
“We hope exports in Turkey will contribute positively to the country’s growth rate this year by 1-1.5 percent,” Mehmet Buyukeksi told Anadolu Agency’s Finance Desk
Buyukeksi added that commodity prices will have considerable impact as the country is an oil importer.
Last year, Turkey’s exports reached $157.1 billion in value — the second highest export volume in the Republic’s history, with a 10.2 percent annual rise. However, the country’s imports rose by 17.92 percent to $234.2 billion in 2017, marking a $77.06 billion deficit in the foreign trade balance.
Turkey accelerated works on encouraging exporters to participate in e-trade platforms as the country lagged behind it, Buyukeksi said.
“The Economy Ministry will support 80 percent of subscription fees when a Turkish company joins a global e-trade website that is among the top 3 as far as click rates are considered,” said Buyukeksi.
He added that the rest of the amount would be covered by TIM.
He said that the ministry’s support would last three years.
Noting that some 10,161 Turkish companies had joined e-trade firms so far, Buyukeksi said the aim was to increase this number to at least 25,000 in 2018.
Turkey’s organic food exports up 17 percent in 2017
Turkey’s organic food exports rose 17 percent year-on-year in 2017, the head of Aegean Dried Fruit Exporters’ Association said Tuesday.The country earned $87 million last year in revenue from organic food exports to 68 countries, Birol Celep said in a statement.Celep said that the exports also rose by 10 percent on a weight basis compared to the previous year, hitting 21,000 tons.”Turkey exports raisins, dried figs, nuts and dried apricots the most. The actual export volume of organic food is at least fivefold the amount on record,” Celep said, adding the difference stemmed from improper filing of export declarations.”The numbers appear lower since the products are not properly labelled as organic in export declarations,” he said.Celep added that the largest organic food importer from Turkey was Germany, followed by the U.S and France.Turkish consumer confidence soars in January
Turkey to grow 4.5 percent in 2018, says business body
Turkey will grow 4.5 percent and the country’s inflation rate will be 9.8 percent in 2018, Turkish Industry and Business Association’s (TUSIAD) predicted in a report on Thursday.The country’s unemployment rate will be 10.5 percent in the current year, said the economic forecast report released during TUSIAD’s 48th general assembly in Istanbul.”It is expected that public spending will take place as predicted in the medium-term program. In this case, the contribution to growth from here will be limited,” the report added.The report showed that Turkey’s budget deficit to GDP ratio would be 1.9 percent negative.The TUSIAD stressed in the report: “Accelerating structural reforms in the economy, especially taking steps to reduce costs on the labor force, accelerating education and tax reforms and measures to improve investment climate will positively affect economic growth and potential growth in the long run.”The country’s exports will increase to $166 billion, while its exports will rise to $252 billion in 2018, the report said.It also estimated that Turkey’s current account deficit to GDP ratio would be 5.4 percent negative.Turkey’s annual inflation rate was 11.9 percent in December 2017, and its unemployment rate was 10.3 percent in October 2017.The country’s exports were $157.1 billion and its imports were $234.2 billion in 2017.
Turkey’s houseware exports on rise
Turkish houseware exports have advanced by 10 percent year-on-year to hit $4.3 billion in 2017, head of the Houseware Association of Turkey said on Thursday.”We have achieved our target last year and we are aiming to take the houseware export volume to $4.5 billion in 2018,” Ugur Kaymak told Anadolu Agency.In 2016, the exports stood at $3.93 billion, while imports amounted $1.36 billion, he added.Kaymak underlined the foreign trade surplus has increase more than five folds from 2006 to 2016.Noting that Turkey was the world’s 6th biggest houseware exporter, Kaymak said that Turkey aimed to rank 4th by increasing sector’s export volume.Kaymak noted that the sector exported the most to the U.K., Germany, France, Italy and Israel.Turkish honey export revenues soar 60 pct in 2017