Turkish exports decreased by 2.8 pct in April

ANKARA (AA) – The value of Turkey’s exports decreased 2.8 percent in April to $11.4 billion from the same period last year due to a decline in export prices, the Turkish Exporters’ Assembly (TIM) announced on Sunday.

The country’s exports decreased by 8.4 percent to $46.2 billion during the first four months of the year compared to the same period of 2015, according to TIM data.

Turkey’s value of total exports in the last 12 months stood at $139.6 billion, down by 9.6 percent compared with the previous 12 months.

Exports decreased in April after increasing a second straight month in March.

TIM President Mehmet Buyukeksi said: “The decline in export prices has affected decline in the country’s export value. However, Turkey managed to increase its export volume, [with] which we are pleased.”

The automotive sector made the highest exports in April with over $2 billion worth of exports, an increase of 11.5 percent compared with April, 2015.

Other champion export sectors were the ready-made textiles sector with $1.5 billion, up 13.3 percent from April of last year, followed by the chemical materials and products sector with $1.22 billion, a decrease of 14.6 percent, according to TIM figures.

Exports to the European Union, Turkey’s main trading partner, increased by 5.1 percent, while Turkish exports to the Middle East decreased by 14 percent in April year-on-year.

Exports to far-east countries such as China and South Korea increased by 11.1 percent, according to TIM.

TIM also reported that Turkey’s exports to 106 countries increased during last month.

Germany, Italy, the U.S., the U.K. and Iraq were the largest export markets for Turkey in April.

The country’s exports to Germany increased by 3.8 percent; to Italy 12.7 percent; and to the U.S. by 11.9 percent in the month, but exports to Iraq declined by 27.9 percent and to the U.K. by 1.3 percent.

The largest increase in the country’s exports among the top 20 markets was seen in Netherlands with an increase of 28.2 percent, followed by a 26.6 percent increase in neighboring Bulgaria.