Türkiye’s exports to its top market, Germany, have reached an all-time high in the first nine months of the year, according to official data.
Sales to Germany hit nearly $14.26 billion from January through September, jumping 10.6% year-over-year, the Turkish Exporters Assembly (TIM) data showed.
Germany purchased 10.2% of all goods Turkish exporters shipped abroad in the first nine months, spearheaded by automotive, ready-to-wear, steel and chemical products.
Türkiye’s January-September exports jumped 17.1% from a year ago to $188.22 billion. Imports were up 40.8% to over $272 billion, driven by energy, which constituted around a third of total purchases.
Exports had ended 2021 at $225.4 billion, a figure that government and economists expected to reach $250 billion this year. The 12-month rolling exports topped $252 billion as of last month.
Foreign sales have achieved record figures in each of the first nine months of this year.
Germany, which remained Türkiye’s top export market, was followed by the United States with $10.89 billion, an increase of 18.7% year-over-year increase. The United Kingdom sits third, having received over $9.27 billion worth of Turkish goods in the first nine months.
Italy and Iraq ranked third and fourth with $8.4 billion and $7.5 billion, respectively. Exports to the two countries rose 11.5% and 22% on annual basis, the data showed.
Exports to Germany in September alone jumped 18.2% to over $2 billion, as foreign sales in the month hit a record $22.6 billion, an increase of 9.2% from a year ago.
Overall imports surged 41.5% from a year ago to $33 billion on the back of soaring prices of energy and other commodities
Automotive exports to Germany amounted to $3.23 billion in the first nine months, followed by ready-to-wear at nearly $2.8 billion and steel and non-ferrous metals at about $1.6 billion, the data showed. Chemicals and chemical products and electrical and electronic products sales amounted to $1 billion and $996.3 million, respectively.
Exports of steel and non-ferrous metals jumped almost $471.5 million compared to a year ago. Ready-to-wear sales increased by $304.3 million, while the automotive industry lifted its exports by $158.8 million, according to the data.
