Turkey's exports set a new record in May


ŞANLIURFA — Turkey's exports were up 5.8 percent in May when compared to the same month in 2013 reaching $13.4 billion, Turkey's Exporters Assembly (TIM) announced on Sunday."The export figures in May broke a historic record," said Chairman of Turkey's Exporters Assembly, Mehmet Büyükekşi, in a press conference he held in the southeastern province of Şanlıurfa.He noted that Turkey's exports in the past 12 months had increased 1.7 percent and reached $156.1 billion.According to the report, growth in export rates was achieved in the following sectors: automotive, machine, knitted outerwear, plastic and furniture.Positive net exports were observed in Iraq, Azerbaijan, Britain, Libya and Egypt.The European Union remained Turkey's biggest trade partner. The top five countries receiving Turkish exports were Germany, Iraq, Britain, Russia and France.The report also showed a 4.2 percent slowdown in imports in May, and a 24 percent decrease in foreign trade deficit in in first four months of 2014. The latter is expected to contribute to overall growth by 3 points.