Turkey Hits New Double Export Record

The first quarter of 2022 and especially March was an important period in terms of exports. According to the data, Turkey reached the highest first-quarter performance and the highest monthly export figure in its history. Total exports in March were 22.7 billion dollars. At the meeting attended by the Turkish Exporters Assembly and Trade Minister Mehmet Muş, the details regarding the issue were announced. The event, in which the progress so far and the future were shared, was very productive. So, how did 2022 start in exports, which sectors came to the fore, and which countries did Turkey export to the most?

March 2022 Exports Went Up as Regards the Previous Year

Turkey's exports in March 2022 increased by 19.8% compared to the same month of the previous year. Moreover, the number of exports reached 22.7 billion dollars. With this figure, March was the month with the highest exports in the history of the republic. Likewise, Turkey reached the highest export rate in the history of the republic, according to its performance in the first quarter of 2022.

Thus, the ratio of exports to imports, excluding the energy sector, rose to 95% in Turkey. Although export expectations and production capacity were decreased all over the world, March was quite productive in Turkey. In the first quarter, Turkey's total export amount exceeded 60 billion dollars. If the current conditions continue, it will be easy to reach the annual target of 250 billion dollars in export.

So, which were the provinces that increased their exports the most? 61 provinces increased their exports in March. The top 3 cities with the highest exports were Istanbul with 9 billion, Kocaeli with 1.9 billion, and Bursa with 1.3 billion dollars. Apart from these cities, other provinces attracted attention with their increase in exports. İzmir, which increased its exports by 255 million dollars, Ankara, which increased by 241 million dollars, and Denizli, which increased by 150 million dollars. On the other hand, 18 provinces in Anatolia broke their own export records. Another remarkable point in this period was the trade with the Turkish lira. Turkey exported 9.8 billion TL in total. Compared to the previous year, the trade made in TL increased by 72%.

Chemical Sector Comes to the Forefront in Exports

A total of 20 sectors increased their exports in March. The Chemical, automotive, and steel sectors are in the top three ranks. While the chemical industry, which exports close to 3 billion dollars, took the first place. The automotive industry reached 2.7 billion dollars, and the steel industry came in third with 2.3 billion dollars. The sectors experienced an increase of approximately 50% compared to last year, and 9 sectors broke export records in March. In addition, the number of exporting companies is increasing in every sector. 1.986 companies exported for the first time in March. The total export of new companies in March was 105.7 million dollars. The total number of exporting companies in March was 47.981.

Which Countries Has Turkey Exported to the Most?

Turkey exported to 218 countries in total in March. It managed to increase its exports to 159 countries. The country to which Turkish exporters exported the most was Germany. Exports of 1.9 billion dollars to Germany were followed by the USA with 1.6 billion dollars and Italy with 1.3 billion dollars. Exports to 33 countries, including the USA, Israel, and Germany, broke a record. The European Union and Mediterranean countries are the markets to which Turkey exports the most.

Looking at exports by country groups, exports to the European Union, Turkey's largest commercial market, reached 10 billion dollars with an increase of 27 percent. The share of the European Union in exports was 44 percent. When other European countries other than the EU are included, the share of the European continent in March exports was 54 percent.

In addition, the opening of the 1915 Çanakkale Bridge will make a positive contribution to exports to the European Union. With the 1915 Çanakkale Bridge, Turkey's logistics competence will increase even more, and it will gain a significant advantage in exports to Europe. In the group of countries other than Europe, Turkey exported 4 billion dollars to the Near and Middle East countries. It exported 2.3 billion dollars to the entire African continent, 1.8 billion dollars to North America, and 1.6 billion dollars to the Far East countries.

$250 Billion Target is Close to Realization

The total export target set for 2022 is 250 billion dollars. For Turkey to achieve this goal, it needs to export 2.1 billion dollars more every month compared to the same month of the previous year. It is possible that Turkey, which made an extra export of 10 billion dollars in the first quarter, will reach its target by the end of the year.