Turkish exports post a 40 pct drop in May
Güncelleme Tarihi:
Anatolia News Agency
Oluşturulma Tarihi: Haziran 02, 2009 00:00
ISTANBUL - Discussions over what is tangent and what isn’t may heat up once again as negative economic data continues to roll in. Turkish exports dropped 39.97 percent to $7.35 billion in May compared to the same period in 2008, according to data released Monday by the Assembly of Turkish Exporters, or TİM.
Turkey implemented exports worth $35.8 billion during the first five months of the year, Mehmet Büyükekşi, chairman of TİM said in Istanbul. Turkey’s year-on-year exports as of May have also declined 9.95 percent to $108.44 billion.
The industrial sector, once again, pulled most of the weight, as it was responsible for 85 percent of Turkey’s total exports. Still, exports implemented by the sector were 42.65 percent lower compared to last year. The sector was able to bring in $6.25 billion in May.
The agricultural sector contributed 12.5 percent of Turkey’s total exports. The exports of the sector totaled $180.1 million, which was a decline of 11.14 percent compared to the same period last year. The mining sector’s exports declined 42 percent to 180 million during the same period. Iron and steel saw a decline of 44.85 percent.
The only industry that was able to implement exports above $1 billion was automotive and its suppliers’ industry with $1.33 billon. Last month Turkey’s top 10 importers were Germany, France, England, Italy, Iraq, Egypt, Russia, the United Arab Emirates, the United States and Spain in that order.
The industrial sector, once again, pulled most of the weight, as it was responsible for 85 percent of Turkey’s total exports. Still, exports implemented by the sector were 42.65 percent lower compared to last year. The sector was able to bring in $6.25 billion in May.
The agricultural sector contributed 12.5 percent of Turkey’s total exports. The exports of the sector totaled $180.1 million, which was a decline of 11.14 percent compared to the same period last year. The mining sector’s exports declined 42 percent to 180 million during the same period. Iron and steel saw a decline of 44.85 percent.
The only industry that was able to implement exports above $1 billion was automotive and its suppliers’ industry with $1.33 billon. Last month Turkey’s top 10 importers were Germany, France, England, Italy, Iraq, Egypt, Russia, the United Arab Emirates, the United States and Spain in that order.