Exports increase 0.1 pct in May, reach $10.8 billion

Published 01.06.2016 10:06
Updated 01.06.2016 14:18

The value of Turkey's exports increased by 0.1 percent in May to $10.8 billion from the same month last year, the Turkish Exporters Assembly (TİM) announced on Wednesday.

The country's total value of exports in the last 12 months stands at $139.8 billion, down 7.9 percent compared to the previous year. Exports worth a total $57.5 billion also dropped in the first five months of this year by 6.5 percent compared to the same period last year.

With 34-percent growth resulting in $1.98 billion in value, the automotive industry was the sector with the most influence on the increase of exports in May. Notably, exports by the ready-to-wear and apparel industry increased by 6.2 percent to reach $1.42 billion. The export of chemical products saw a 17.7 percent decline.

Turkey's biggest export partners in May were Germany, the U.K., Italy, the U.S. and Iraq. While exports to Germany, the U.K., Italy, and the U.S. increased by 10.8 percent, 0.9 percent, 22.1 and 25.4 percent, respectively, exports to Iraq were down by 15.1 percent in May compared to the same period last year.

Exports to the EU and North America increased by 13.1 percent and 26.1 percent respectively, while exports to the Middle East and the Commonwealth of Independent States decreased by 5.7 percent and 28.1 percent.

Exports to Poland experienced the greatest jump in May with an increase of 35.5 percent. Israel and Bulgaria followed Poland with 33.4-percent and 33.1-percent increases, respectively.

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