June 22, 2022
According to official data, Türkiye’s overseas sales to eight nations reached their highest level to date in May, as exporters aim to expand their range and diversify markets.
According to data provided by the Turkish Exporters Assembly, Senegal, the Dominican Republic, North Macedonia, Rwanda, Tajikistan, Cameroon, Costa Rica, and Montenegro acquired a record volume of Turkish items in May.
According to figures from the umbrella organization of Türkiye’s exporters’ groups, sales to the eight markets increased by about 80% to over 600% on an annual basis.
Türkiye has presented action plans and attempted to participate in new strategies to promote its brands and goods, emphasizing its desire to focus on alternative markets and efforts to increase sales to far-flung areas.
From January through May of this year, its exporters achieved new highs in sales. Last month, the 12-month rolling export figure was $242.6 billion.
Exports totaled $225.4 billion in 2021, with the government and experts projecting a value of $250 billion this year. Officials have emphasized that the objective will be met by the end of the year.
According to the data, sales increased by 20.4 percent year over year to $102.5 billion, while imports increased by nearly 41 percent to $145.74 billion.
May foreign sales rose 15.2% year-over-year to $19 billion, the TIM data showed. Imports were up 43.8% from a year ago to $29.7 billion, driven by soaring energy costs that have been widening the country’s trade deficit.
Istanbul was the most important Turkish city in terms of exports to the eight countries.
In May, Istanbul-based companies sold $74.7 million worth of goods to Senegal, accounting for 85.6 percent of Türkiye’s total exports to the country.
Istanbul enterprises exported $62.3 million worth of goods to the Dominican Republic, accounting for 87.5 percent of total exports, and $27.3 million to North Macedonia, accounting for 41 percent.
Source: Daily Sabah
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