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Turkey’s exports increased by nearly 30 percent in August compared to the same month last year, according to data published by the Turkish Exporters Assembly, or TİM, on Thursday. The figure means the 12-month target for the government’s medium-term plan was surpassed, Economy Minister Zafer Çağlayan said Thursday.
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Turkey posted $11.78 billion worth of exports in August, according to TİM figures. This translates into a 29.89 percent increase compared to the same month last year and 21.63 percent increase in the first eight months of 2011, compared to the same period last year.
The volume of exports in the last 12 months grew 17.5 percent to $129 billion, surpassing the $127 billion, 12-month export target of the government’s Medium-Term Program, according to Çağlayan.
Although import data was not yet published for August by TurkStat, Turkey’s state statistics agency, Turkey’s foreign trade deficit remained high in July. The trade gap was $9.01 billion in July, increasing 38.4 percent when compared with the same month last year.
The ready-wear and textile sector reported the largest growth in volume of exports in August compared to last year, followed by the chemicals and automotive sectors.
Industrial sector exports, worth more than $9.3 billion, had the largest share of the country’s overall exports in August at nearly 84 percent. The share of agricultural exports was 12.85 percent whereas that of mining was 3.2 percent.
Turkey exported the most goods to Germany in August, according to the data, followed by Iraq, the U.K., France, Russia and Italy respectively. |
Source : hurriyetdailynews.com
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