Turkey's September exports hit a record, but volume declined
In September, Turkey's exports increased by 15.4% approaching $26 billion, while annual exports broke a record at $283.7 billion. However, the decline in volume-based terms continues.
Turkey's exports in September increased by 15.4% compared to the same month of the previous year, approaching $26 billion, while exports for the last 12 months reached a record level of $283.7 billion. However, this strong increase in dollar terms was not accompanied by volume-based growth, and volume registered a decline in September.
Value and Volume Diverged in Exports
Turkey's September exports increased by 15.4% approaching $26 billion, while total exports for the last 12 months broke a record at $283.7 billion.
However, this increase was not accompanied by volume-based growth; volume declined by 0.6% in September and by 2% in the January-September period.
Bullion Gold Impact on Jewelry
Mustafa Özcan, Chairman of the Jewelry Exporters' Association, stated that a significant portion of the increase stemmed from bullion gold exports.
Özcan expressed that the contribution of this situation to the sector in terms of labor and added value is limited and that it results from gold under the mattress entering the system.
Prices Stood Out in the Chemical Sector
Vefa İbrahim Aracı, Chairman of the Istanbul Chemicals and Chemical Products Exporters' Association, said that prices played a role in the value increase of chemical exports.
Aracı emphasized that the quantitative increase remained limited, but Europe preferred Turkey due to its close market and logistical advantages.
Sub-Sector Differences in Electrical and Electronics
Mehmet Kavaklıoğlu, Chairman of the Electrical and Electronics Exporters' Association, noted that the increase in value grew faster than volume in September.
Kavaklıoğlu stated that increases in commodity prices, such as copper, reflected on the sales prices of cables and similar products, driving up the total value.
Sustainability Warning from TIM
Mustafa Gültepe, Chairman of the Turkish Exporters Assembly (TIM), emphasized that value and volume indicators must rise together for healthy export growth.
Gültepe drew attention to the fact that the gap between inflation and exchange rates continues to exert pressure on exporters.