Turkey: Machinery exports in first half reach over $8B

By Gokhan Ergocun

ANKARA (AA) - Turkey's machinery exports reached $8.3 billion in the first half of 2018, an association said on Monday.

The exports jumped by 20 percent compared to the same period last year, the Machinery Exporters' Association (MAIB) said in a press statement.

"Machinery production and its prices are rising more than other sectors," Kutlu Karavelioglu, chairman of MAIB, said.

Turkey's machinery exports to Germany, the U.S., and the U.K., which are the country's largest importers, rose by around 20 percent, he noted.

He added that machinery exports to Russia and Romania rose by around 50 percent while exports to the Netherlands and Uzbekistan jumped by nearly 70 percent.

Karavelioglu said Turkey's machinery exports' rising ratio is more than all other countries globally.

MAIB said the machinery exports' unit price also rose by around 10.7 percent, from $6.3 per kilogram, during the January-to-June period.

The share of machinery in the country's total exports -- $81.9 billion -- in the six-month period amounted to 10.1 percent.

MAIB aims to reach $18 billion machinery exports by the end of 2018, Karavelioglu said.

"Our 2023 target is to raise machinery exports' share to 15-20 percent in the country's total exports," he added.