Automotive industry tops exports, hitting $2.5 billion in June.
Ford Otosan, Toyota and TOFAS Automobile ranked as top three exporting companies for 2017
Turkey’s exports in June rose 5% compared to the same month last year, according to the latest data announced by the Turkish Exporters’ Assembly (TIM).
Last month, the country’s exports reached $12.6 billion – a 1.9% year-on-year increase. The automotive industry topped exports with $2.5billion, followed by chemical products with $1.42 billion and clothing with $1.36 billion.
“In June, the European Union was the main export market for Turkish products with 52.1% of total monthly exports,” said the newly-appointed chairman of the Turkish Exporters Assembly (TİM), İsmail Gülle. “Exports to Africa increased by 23.8% and exports to other Asian countries increased by 33.2%.”
Overall 33,563 firms carried out exports in June with 2,771 making their first exports this year and 1,081 who have never exported before.
WANT TO BUILD A FINANCIAL EMPIRE?
Subscribe to the Global Banking & Finance Review Newsletter for FREE Get Access to Exclusive Reports to Save Time & Money
By using this form you agree with the storage and handling of your data by this website. We Will Not Spam, Rent, or Sell Your Information.
The TIM also announced the Top 1000 Exporters of 2017. Ford Otosan came at the top of the companies with $4.79 billion exports, followed by Toyota Motor Manufacturing Turkey with $4.44 billion and TOFAŞ Automobile with $3.2 billion. (Top 10 exporter list below).
The total exports of the top 1000 exporters increased by 13.4% compared to 2016, reaching $92.3 billion. Ten companies climbed over the $1 billion export mark during the year, while 436 firms remained between $25-50 million.
In 2017, 66.8 percent of the top 1000 exporter companies were producer-exporters, 16.5 percent were exporters, 12 percent were group foreign trade companies and 4.7 percent were sector-capital foreign trade companies. 81% were domestic firms, 11.3% foreign, and 7.4% had domestic and foreign partners. Domestic companies’ share in the export value of top 1000 exporters was 61%.
“On behalf of exporters, we would like to thank Turkey’s Economy Minister Nihat Zeybekci who has always been supportive of exporters. We believe that the new Minister of Trade, Ruhsar Pekcan, who now leads both domestic and foreign trade, will continue to make exporters stronger in the global arena,” added İsmail Gülle. “Our goal for 2023 is to have at least 50 companies with more than $1 billion in exports. To achieve this goal, we must export products with higher added value and invest more in R&D, innovation, design and branding.”