UPDATE - Turkey's exports increase over 15 percent in October

UPDATE WITH MORE QUOTES FROM TURKISH PM

By Tuba Sahin and Dilara Zengin

İSTANBUL (AA) - Turkey's exports rose 15.6 percent year-on-year to $13.5 billion in October, Prime Minister Binali Yildirim said Wednesday.

In his speech at the Turkish Export Week in Istanbul, Yildirim said: "The value of Turkish exports in the month is the highest figure of all times for October and the rise --15.6 percent-- is the highest increase in last 10 years' October figure."

Yildirim said exports also climbed 11 percent to reach $128.7 billion in the first 10 months of the year.

Turkey's total exports in the last 12-month period rose 10.7 percent compared with the previous 12 months to stand at $154.2 billion.

Yildirim said that Turkey’s exports had gained momentum by the last quarter of last year.

Turkey’s exports increased 10.5 percent in January-September 2017 compared to the same period of last year, he said.

Yildirim said that exports contributed 2.2 percent to Turkey’s economic growth.

- 'Need to increase exports'

He said that Turkey imported more products than it exported.

“We always put emphasis on export and it grew by 15 percent. We need to make more exports than imports,” he added.

Yildirim said that he expects an upgrade in the Turkish economy's growth rate from global rating agencies until the year-end.

However, he added, Turkey would continue to grow consistently and confidently regardless of the rating agencies' decisions.

Recalling International Monetary Fund’s positive projections on global economic growth, he said, Turkey will grow at a higher rate than the world.

"For example, if the world's growth rate is at 3.6 percent, Turkey will grow two-folds. Do not be surprised if Turkey closes the year with above 6 percent or nearly 7 percent growth rate," Yildirim said.

Yildirim said that Turkey was the world's 17th and Europe's sixth biggest economy with its national income at $863 billion.

- 'Connection with Africa'

He said that the government aimed to place Turkey among high-income countries within three years and added that exporters should contribute to that.

Yildirim added that Turkey had the best connection to African countries.

Turkish Eximbank will be more active in African countries and the country will increase its export to the region, Yildirim said.

Economy Minister Nihat Zeybekci also spoke at the event.

"We achieved our mid-term program's target two months earlier. If we add the data of coming two months, we will exceed mid-term program's second revision of $156.5 billion," Zeybekci said.