Turkey’s exports rose 6.1% on annual basis to $14.8B in January, says head of Turkish Exporters’ Assembly
Turkish exports posted a year-on-year rise in January, the head of Turkish Exporters’ Assembly said Monday.
The country’s exports boosted 6.1% on an annual basis to $14.8 billion last month, Ismail Gulle said at a press meeting held in southern Hatay province.
“This is the highest January export figure in the history of the Republic,” Turkish Trade Minister Ruhsar Pekcan said on Twitter.
Pekcan underlined that the figure hinted at economic recovery despite weak trend in global economy.
“We will continue our successful performance of 2019 in foreign trade with the same resolve and determination in 2020,” she said.
According to Gulle, imports also surged nearly 19% to hit $19.2 billion during the same period.
“Thus, the exports-to-imports coverage ratio reached 76.8% in January,” he noted.
The trade volume reached $34 billion in January, rising 13% year-on-year.
Germany ($1.5 billion), Italy ($889 million) and the U.K. ($870 million) were the main recipients of Turkish exports in the month.
The country’s exports to the EU hit $7.4 billion in January, bringing the bloc’s share in Turkey’s total exports to 50%, thanks to the recovery in the EU, Gulle said.
In the same period, Turkey imported the most from Russia ($2.1 billion), China ($1.9 billion), Germany ($1.35 billion), and the U.S. ($1.27 billion).