3/20/2014

Turkey only EU ally to raise exports to bloc

Hürriyet Daily News - Turkey is the only country that increased exports to the European Union (EU) last year among the bloc’s largest trading partners, according to the EU’s statistical authority.

Turkish exports to the EU rose 4 percent, reaching EUR 50.2 billion, according to a report released on Eurostat’s website.Turkey remained the EU’s sixth-biggest trading partner in 2013 with a total trade volume of EUR 128 billion.


Among the EU’s 10 biggest trading partners, the exports of China, Russia and the United States shrank by 4, 4 and 5 percent respectively. Other EU trading partners such as Switzerland, Norway, Japan, India, South Korea and Brazil recorded considerable falls in exports to the EU in 2013.


Bordering the EU with a Customs Union Agreement with the bloc in effect, Turkey is increasingly seen as an export hub by global companies seeking to market their goods to the region. Turkey’s exports in the last decade soared to USD 151.9 billion in 2013 from USD 47.2 billion in 2003, the EU being the major export market.

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