Turkey Financial News

Posted by meb at September 2nd, 2008

Turkey’s exports to the United Arab Emirates (UAE) in August surpassed exports to its number one economic partner, Germany, for the first time in history, thanks to strengthening economic relations.

Exports to the UAE last month reached nearly $1.15 billion, according to the latest figures released by the Turkish Exporters’ Assembly (TIM) on Monday.

Germany ranked second among the top 20 nations Turkey exports to, with $988.6 million, followed Britain with imports worth $576.06 million. Russia ranked fourth with $530.56 million, while France ranked fifth with nearly $434.17 million.

Turkey’s exports to European nations, its strongest trade partner, stalled due to a painful economic slow down, while exports to the Gulf increased thanks to strengthening economic relations, TDN reported citing the Anatolian Agency on Tuesday. (more…)

Posted by meb at July 17th, 2008

Turkey’s year-on-year exports surpassed $125 billion and have reached the target for this year, a state minister announced yesterday.

Exports rose 35 percent between Jan. 1 and July 15, State Minister Kürşad Tüzmen told the Anatolia news agency. Industrial products exports reached $64 billion in the first half of the year, Tüzmen said, adding that the iron and steel sector reported the greatest rise, with an increase of 69 percent. (more…)

Posted by meb at June 28th, 2008

Turkey’s policy of determining strategies to enhance exports result in a considerable contribution to the overall export volume. These strategies are expected to be implemented until at least 2010.

An example of such success, the “Neighboring and Regional Countries Export Strategy” was put in place eight years ago. That year, exports to the countries covered by this strategy totaled $6.9 billion. As of the end of 2007, they have reached $40.7 billion. (more…)

Posted by meb at June 27th, 2008

Grundig Elektronik, a Turkish television-set maker, aims to increase its market share to 5 percent with the Grundig brand and 15 percent with all of its brands and original design manufacturer sales by 2010 in Europe, said the general manager of Grundig Elektronik yesterday.

Grundig also plans to develop its product range by phasing out production of cathode-ray tube televisions by 2010 to focus on production of liquid-crystal display (LCD) televisions, Oğuzhan Öztürk added. “Our aim is to increase our turnover by 20 percent to reach YTL 1.7 billion in 2008. We will increase our television production volume from the current 3.2 million to 5.5 million by 2013, which comprises only sales of LCDs,” Öztürk told reporters at Grundig’s Beylikdüzü production plant in Istanbul. (more…)

Posted by meb at June 2nd, 2008

A new monthly export record was set in May. Turkey’s exports during the month increased 34.48 percent to $12.281 billion. The year-on-year export rate surpassed $120 billion for the first time in history, while import reached $ 18.2 billion

Turkey’s exports in May set a new monthly record by increasing 34.48 percent to reach $12.281 billion. This has been the highest level on a monthly base, Oğuz Satıcı, Turkish Exporters Assembly (TİM) chairman yesterday. “During the first five months of the year, our exports increased by 36.36 percent and reached $55.07 billion, while our year on year exports increased by 28.42 percent to reach $120.65 billion,” he added. The automotive sector and its supply industry recorded the highest level of exports during May at around $2.5 billion. (more…)

Posted by meb at May 2nd, 2008

Turkey’s April exports increased over the same period last year by 39.16 percent, reaching $11.4 billion, according to the Turkish Exporters Assembly (TİM), which announced the results in the central Anatolian city of Kütahya yesterday.

Turkish exports in the January-April period increased by 36.9 percent compared to the same period in 2007, totaling $42.78 billion. Exports as of the end of April (on a rolling annual basis) increased by 27.6 percent to $117.5 billion. Industrial exports maintained their lead in April and increased to $10.07 billion, a 39.6 percent rise, amounting to 88.4 percent of Turkey’s total exports. (more…)

Posted by meb at April 26th, 2008

Turkish State Minister Kursad Tuzmen said Turkish exports in 12 months had reached $117 billion.

Tuzwen was in Istanbul on Friday to attend the inauguration of the Business Machines and Construction Technologies Fair ANKOMAK 2008. ANKOMAK 2008 is the biggest of its kind in the nearby region.

In his opening speech Tuzmen said Turkish exports of business machines have exceeded one billion USD. The Turkish economy is the 15th biggest economy in the world behind South Korea. (more…)