Export indices jump, says institute
Posted by meb at March 15th, 2008
Turkey’s overall export and import volume indices increased by 35.6 percent and 26.7 percent respectively in January compared to the same month in 2007, said the Ankara-based Turkish Statistics Institute (TÜİK) Friday.
The export volume index for agriculture and forestry declined by 8.2 percent in January over a year earlier, according to foreign trade indices, which take 2003 as base year. The export volume index for fishing, mining and manufacturing rose by 106.8 percent, 18 percent and 38.2 percent respectively over the period.
The import volume index for agriculture and forestry, mining, manufacturing went up by 32.6 percent, 12.9 percent and 29.9 percent respectively in January, compared to the same month last year.
Rise in unit value indices:
The overall export and import unit value indices rose by 19 percent and 21.4 percent respectively in January, compared to January 2006.
The export unit value index for agriculture and forestry was up 28.4 percent while the export unit value index for fisheries rose by 22.1 percent, mining by 16.2 percent and manufacturing by 18.8 percent.
The import unit value index for agriculture and forestry, mining, manufacturing, increased by 28.2 percent, 49.3 percent and 15.6 percent respectively over the period. The export unit value index for textile and clothes, which constitute the major components of the index, rose by 12.7 percent and 19.7 percent over the period.
In January, the volume index of exports and imports for motor vehicles and trailers went up by 66.3 percent and 34.5 percent respectively, compared to the same month last year. The export and the import volume index for manufacture of basic metals rose by 113.5 percent and 27.1 percent respectively. The export and import unit value indices for the sector rose by 21.7 percent and 16.7 percent over the period.
Exporters not pleased:
Still a top representative of exporters said this is an “impoverishing export.” Speaking to the Anatolia news agency Friday, Oğuz Satıcı, president of the Turkish Exporters Assembly (TİM), said exports are rising in dollars, but producers and exporters get “fewer Turkish liras.”
“Turkish producers and exporters gained 22 kuruş less for every U.S. dollar in February,” Satıcı said. “What is important is making profit. If you do not, what you do [in terms of exports] does not mean much.”
“We are increasing exports, but not profits,” he continued. “To increase profits at the same level as exports, Turkey should abandon the high real interest rate policy.”
Source: Turkish Daily News
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