1/3/2012

Turkey’s 2011 exports reach an all-time high of USD 134.6 billion

Zaman - Turkey’s exports in the last year reached an historic volume despite Europe’s debt crisis and the turmoil in the neighboring Middle East, both key markets for Turkish-made goods. The country’s 2011 exports amounted to USD 134.6 billion, 18.2 percent more than the 2010 total and also the highest amount of earnings attained in Turkey’s history.

Data released by the Turkish Exporters Assembly (TIM) show that motor vehicles accounted for the highest proportion of Turkish exports in 2011, reaching more than USD 20 billion in value. Automotive exports increased by 17.4 percent over 2010, correlating with the industry’s successful year in production and sales.

The automotive industry was followed by the chemicals industry, which surpassed ready-to-wear textiles by a close margin. Both sectors’ exports hit over USD 16 billion. Chemicals exports, however, went up by nearly a third – 28.9 percent more than in 2010 – while the increase in the ready-to-wear sector was a more modest 10.7 percent.

Turkey’s exports have been steadily increasing over the last decade, albeit briefly taking a hit during the crisis-hit years of 2009 and 2010. The country aims to achieve an export total of USD 500 billion by 2023, the centennial of the republic.
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