Exports rise, but still lag previous years
Turkish exports reached $11.87 billion in April, the Turkish Exporters Assembly (TIM) said, an annual rise of 4 percent but a monthly decline from March.
Exports in the first four months of 2017 rose 6.7 percent year on year, which TIM said showed a recovery. Let’s be optimistic about this, but also be aware of the facts.
Since 2014, Turkey’s annual exports have been decreasing. That year, exports were $157 billion, then fell to $142 billion in 2015 and remained level in 2016.
In 2015, exports in the first four months were $50.4 billion, but in 2016 they fell 7.4 percent to $46.6 billion in the same period. In April 2015, the figure was $13.3 billion, then declined by 10.2 percent to $11.9 billion in April 2016. rose to $1.22 in April. Leading sectors were automotive, ready-towear, electronics, electrical machines and iron and steel.
The price for main automotive products exports was $8.43 per kilo and $4.73 for goods shipped overseas by the automotive-supply industry. Textile products earned $4.48 a kilo.
The revenue per kilo generated from the ready-to-wear industry was higher than automotive products, with outfits bringing in $14.53 per kilo and outerwear $20.08 per kilo.
The export price per kilo from the iron and steel industry, which is highly dependent on imported energy, was just $0.61. Cement exports’ price per kilo was $0.038.
Demand for the exports that Turkey produces is limited, which weighs down prices. Our industry has struggled to move toward higher-value products.
So, while TIM says there was an increase in export revenue of more than 4 percent in April 2016, actually there was a 10.2 decrease in export revenues.
TIM mentions an increase of 6.7 percent in export revenues for the first four months but there was a decrease of 7.4 percent in export revenues for the mentioned period.
The first four months of 2017 indicate a recovery from last year, but exports still lag the figures for 2014 and 2015.
According to TIM’s data, the price per kilo of goods exported