Turkey's exports start 2017 with significant increase

By Bahattin Gonultas

ANKARA (AA) - Turkey's exports increased by 15 percent in January, the highest rise in last 49 months, data from the Exporters’ Assembly of Turkey (TIM) revealed on Wednesday.

Exports totaled $10.5 billion last month and the country's total exports over the last 12 months stood at $143.6 billion, up by 1.8 percent compared with the previous 12 months.

"The increase is the greatest change since November 2012," said Mehmet Buyukeksi, TIM president.

"We announced 2017 as a leaping point for exports. We expect an increase in petroleum and commodity prices, a decrease in export losses in Russia due to the normalization of relations, and an increase in petroleum exporting countries' imports," he added.

The automotive sector was the highest exporter in the month with nearly $2.1 billion while the apparel sector and chemicals conducted $1.2 billion in exports each.

The EU's share in Turkish national exports reached 49.9 percent. Middle Eastern countries account for 18.2 percent and African countries 8.3 percent of Turkish exports.

Exports to Russia increased by 57 percent, the highest level since the 2015 crisis between the two countries.

The fresh fruits and vegetables sector increased exports by $27 million, almost half the total increase to Russia.

Exports to Iraq increased by 42.4 percent thanks to increases in jewelry, fisheries and animal products.

The country's economic heart, Istanbul, remains the highest-exporting city in Turkey followed by Bursa, Kocaeli, Izmir and Gaziantep.