Turkey’s Exports Hit Record in February 2022 with $20 Billion (An increment of 25%)
Turkey’s exports hit an all-time high for February with a 25% annual jump to $20 billion according to Turkey Export Data.
Turkey, a transcontinental country located mainly in Anatolia in Western Asia, with a portion in the Balkans in Southeast Europe is emerging as a blooming Export Country in 2022.
Turkey’s exports hit an all-time high for February with a 25% annual jump to $20 billion according to Turkey Export Data. “Our route in the economy is clear: Investment, production, employment, and exports,” Trade Minister Mehmet Muş said.
As per Turkey Customs data, Turkey’s exports stood at $37.6 billion in the first two months of the year (January marked approx. $17.6 billion in export), making a strong increase of 21.4 percent in the same period of 2020. Overwhelmed with the export figures starting in this Year 2022, Turkish Exporters Assembly Chairman İsmail Gülle said that as an export family, they also achieved a record by performing historically in February as well. “In February, our export amounted to 20 billion dollars, with an increase of 25 percent compared to the same month last year. With this figure, we managed to reach the highest February export figure in our history. I wholeheartedly congratulate every member of our export family who has signed this record.”
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TOP TRADING PARTNERS
According to Turkey Trade Data, Turkish Exporters managed their exports to 214 countries and regions in Feb 2022. The top 3 countries to which their exporters export the most: is Germany with $1.8 billion, the United States with $1.3 billion, and the United Kingdom with $1.1 billion. Others ranked as UAE with an increase of 477 million dollars and Iraq with 318 million dollars worth of goods.
TOP TRADING GOODS
Exports were driven by a 57.8% rise in the iron and steel industry ($1.6 billion) while Chemical Industry’s exports rose to 30.1% and automotive exports increased by 1.2% ($2.2 billion). there are many reasons for this jump, but one is the Free trade agreement which is signed between Ukraine and Turkey. Also, Turkey is the EU’s 6th biggest trade partner, representing 4.6% of the EU’s total trade in goods with the world in 2022.
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