Turkey’s exports hit an all-time high with $168.1 billion last year, the country’s trade minister said on Jan. 4.
Ruhsar Pekcan stated that exports in 2018 climbed 7.1 percent year-on-year, compared with nearly $157 billion in the previous year.
“In 2018, imports fell 4.6 percent on a yearly basis to $223.1 billion,” Pekcan said.
“Turkey’s exports-to-imports coverage ratio reached 75.3 percent last year, up 8.2 percentage points from 2017,” she added.
According to the preliminary data, Turkey’s foreign trade balance posted a deficit of $55 billion last year, marking a significant improvement compared with $76.8 billion in 2017.
The final figures will be announced by the country’s statistical authority on Jan. 31.
Turkish auto market aims over $32 billion exports in 2019
Turkey’s automotive industry exports will exceed $32 billion in 2019, head of Uludağ Automotive Industry Exporters’ Association (OİB) said.
“As the automotive industry, we are aiming to overcome all difficulties and to close this year with an increase in exports. In this direction, we set our export target in 2019 to be $32 billion,” Baran Çelik, the chief executive officer of OİB, said in a statement.
Çelik said that Turkish automotive sector’s exports reached $31.6 billion in 2018 with an increase of 11 percent compared to 2017, noting that Turkey left behind another year full of records.
“Last year, we achieved an export average of $2.63 billion on a monthly basis,” he added.