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Trade Minister Mehmet Mus: Record in November exports

Breaking news… Trade Minister Mehmet Mus announced the export figures. A record was broken in November exports. Minister Mehmet Mus said, “Our exports increased by 33.4% in November compared to November of last year and amounted to $21.5 billion. This value is our highest monthly export.”

Minister Mus announced the foreign trade figures for November at the press conference he held with the President of the Turkish Exporters Assembly Ismail Gulle at the Conference Hall of the Ministry of Commerce.

Emphasizing that the economy and commercial activities have revived with the restrictions eased by vaccination, Mus said that on the other hand, disruptions in the supply chain and shortages of raw materials are a major obstacle to trade.

Mus pointed out that energy and food prices have risen to all-time highs with increasing global demand.

Pointing out that the global vaccine inequality is the biggest obstacle to the world in terms of ending the epidemic and recovering from the new type of coronavirus (Covid-19) epidemic, Mus said, “It’s time to share vaccines quickly, remove all obstacles to vaccine production, and distribute vaccines fairly. Hopefully, we will make a serious contribution to the fight against this vaccine injustice with our domestic vaccine, TURKOVAC, for which we have applied for emergency use approval.”

“CONNECTING OUTSTANDING EXPORT PERFORMANCE ONLY TO THE EXCHANGE RATE IS A SHALLOW APPROACH”

Expressing that exporters are working despite the opening and closing of borders, fluctuations in demand and prices in the world, Mus said:

“We are sad to see those who make an effort to downplay this success in our exports. They have almost come to the point of saying that exports are not actually beneficial for the country. While they want to criticize us, great injustices are being done to our business people who contribute to our economy in such a challenging environment. It is a shallow approach to attribute this outstanding performance achieved with the cooperation of the public and private sectors in exports only to the exchange rate.”

Stating that Turkey has increased its international competitiveness despite all the negativities in the post-epidemic period, Mus said that productivity increase, value-added production, branding and stronger foreign demand are used effectively.

WE WILL CLOSE 2021 WITH DOUBLE DIGITS IN GROWTH”

Expressing that despite the negative developments in the global economy, foreign trade figures continue to be the driving force of the economy, Mus said, “With the support of the success achieved in exports, our economy, which grew by 7.4% in the first quarter of 2021, recorded 22% growth in the second quarter and 7.4% in the third quarter. When we consider the 6.3% growth in the same period of 2020, it will be better understood that there is no base effect in our growth figure.”

Noting that exports continued to be the driving force of growth in the third quarter of the year, Mus said, “The contribution of net goods and services exports to growth was 6.8 points. Thus, 92% of the high rate of growth in the third quarter resulted from net exports of goods and services. In other words, Turkey has grown by producing and selling what it produces abroad. This is an important result of the ‘Productive Turkey’ vision that we have expressed for years.”

Stating that Turkey is the second fastest growing country among OECD and G20 countries, with its performance, Mus noted that they expect growth to continue by getting stronger.

Reminding that the OECD has raised Turkey’s year-end growth forecast to 9%, Mus said, “We will continue our quality growth trend, which rises on solid foundations, in the last quarter of the year as well, and hopefully we will close 2021 with double-digit growth rates.”

Source: Sabah / Translated by Irem Yildiz

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