Reports issued by the Turkey’s Exporters’ Assembly (TİM) last week revealed that exports in Turkey in November just passed totalled $13.8 billion – an increase of 8.8 per cent year on year. TIM meanwhile predict an end of year export figure of $153.5 billion, as predicted earlier this year, Oceanwide Properties Turkey can reveal.
The rise has been attributed mainly to the improvements in Europe. Turkish Minister of Economy Zafer Caglayan revealed the news last week during a speech at the 4th Young Businessmen’s Congress. He said the global recession had created a gap in world markets which Turkey was stepping into and filling more substantially on a daily basis.
“Turkey’s 18 provinces have made exports worth over 100 million dollars each,” he said.
He also referred to negotiations related to Turkey’s entry into the UK and said he and his fellow ministers would not stand down when it came to the visa issue.
A spokesman for TIM meanwhile said it was a good sign for future prosperity of the Turkish economy – especially with more improvements expected in Europe over the coming months. And that can only spell good news for the Turkey property market.
Where Turkey Exports to Most
Turkey’s exports to Europe as a whole increased by nine per cent last month. Of that figure, most exports went to Germany ($1.3 billion), Iraq ($1.2 billion), the UK ($869 million), Russia ($659 million) and finally Italy ($622 million). Most exported goods came from the motoring sector (around $19.55 billion from January to November 2013). Again, this was yet another increase, this time by 12.2 per cent and making up 14.1 per cent of total exports. Next most successful sector was textiles (i.e. clothing rather than fabrics) with $15.95 billion for the same period, resulting in 11.5 per cent of Turkey’s total exports.
Another group who have particular benefited from exports this year are Turkish lemon exporters who report an increase in the volume of lemons going overseas to have risen by 25 per cent – to the extent the Turkish exporters are now the ones setting the price when it comes to Asian markets. Instead of exporting 100 containers of lemons, they hope to increase this to 300 by next April – thanks to better weather.
New Oil Export Deal Signed with Kazikstan
Several days ago Turkey signed a deal with the Kurdistan Regional Government to allow exports of oil intended for international markets to come through Turkey (oil exports are predicted to increase to 1 million barrels per day by 2015). A Turkish oil company operating in Kurdistan meanwhile will look towards 13 fields in Northern Iraq. Half of those fields will be in partnership with US giants Exxon Mobil.
If you’d like to prosper from Turkey’s growing economy then now is the time to invest in a property in Turkey. At Oceanwide Properties we particularly deal in property for sale in Fethiye, Kalkan and other resort areas. Feel free to contact us and take a look through available properties for sale.