Exports down in July due to long holiday
The value of Turkey's exports decreased 18.7 percent in July to $8.8 billion compared to the same period last year because of the long holiday in the month, the Turkish Exporters Assembly (TİM) announced yesterday.
In remarks made at a press conference in southwest Burdur province, assembly Chairman Mehmet Büyükekşi said: "The coup attempt's effect on exports was limited and this loss was in fact due to the nine-day long Ramadan Bayram holiday."
In July, Turkey increased its exports to 62 countries. The biggest increase was exports to the Netherlands with 8.9 percent. Thirteen cities increased their exports and 65 experienced drops.
The country's exports decreased 4.9 percent to $80.4 billion during the first seven months of the year compared to the same period in 2015, according to the TİM's data. Turkey's value of total exports in the last 12 months stood at $139.7 billion, down 6.1 percent compared to the previous 12 months.
The automotive sector had the highest exports in July, with over $1.72 billion worth, in an increase of 5.2 percent compared to July last year. Other expanding export sectors were the ready-made textiles sector with $1.25 billion, followed by the chemical materials and products sector with almost $1 billion, according to the data.
Exports to the European Union, Turkey's main trading partner, decreased 10.6 percent in the month, but it had increased 4.9 percent in the first seven months.
Exports to the Middle East decreased 25 percent in July, year-on-year.
The TİM also reported that Turkey's exports to 168 countries had decreased last month.
Germany, Italy, the U.S., U.K. and France were the largest export markets for Turkey in July. The country's exports to the U.K. decreased 28.3 percent, to the U.S. 26.5 percent and to Germany 12.9 percent. The largest increase in exports among the top 20 markets was to the Netherlands with an increase of 8.9 percent, followed by a 0.2 percent increase to Poland.
The TİM also said the number of working days in July was only 16 days compared to the 22 days in the same month of 2015. The government declared a nine-day public holiday starting from July 2 for Ramadan Bayram, which marks the end of the holy fasting month of Ramadan, to try to boost domestic tourism in the country.
In remarks made at a press conference in southwest Burdur province, assembly Chairman Mehmet Büyükekşi said: "The coup attempt's effect on exports was limited and this loss was in fact due to the nine-day long Ramadan Bayram holiday."
In July, Turkey increased its exports to 62 countries. The biggest increase was exports to the Netherlands with 8.9 percent. Thirteen cities increased their exports and 65 experienced drops.
The country's exports decreased 4.9 percent to $80.4 billion during the first seven months of the year compared to the same period in 2015, according to the TİM's data. Turkey's value of total exports in the last 12 months stood at $139.7 billion, down 6.1 percent compared to the previous 12 months.
The automotive sector had the highest exports in July, with over $1.72 billion worth, in an increase of 5.2 percent compared to July last year. Other expanding export sectors were the ready-made textiles sector with $1.25 billion, followed by the chemical materials and products sector with almost $1 billion, according to the data.
Exports to the European Union, Turkey's main trading partner, decreased 10.6 percent in the month, but it had increased 4.9 percent in the first seven months.
Exports to the Middle East decreased 25 percent in July, year-on-year.
The TİM also reported that Turkey's exports to 168 countries had decreased last month.
Germany, Italy, the U.S., U.K. and France were the largest export markets for Turkey in July. The country's exports to the U.K. decreased 28.3 percent, to the U.S. 26.5 percent and to Germany 12.9 percent. The largest increase in exports among the top 20 markets was to the Netherlands with an increase of 8.9 percent, followed by a 0.2 percent increase to Poland.
The TİM also said the number of working days in July was only 16 days compared to the 22 days in the same month of 2015. The government declared a nine-day public holiday starting from July 2 for Ramadan Bayram, which marks the end of the holy fasting month of Ramadan, to try to boost domestic tourism in the country.