Minister of Trade Pekcan: Our exports in July were 15 billion 12 million dollars

Minister of Trade Ruhsar Pekcan, in her written statement, emphasized that exports continue to be the locomotive of the growth of the Turkish economy while contributing to the reduction of the current account deficit. Minister Pekcan underlined that the recovery in exports after the new type of coronavirus (Covid-19) epidemic continued to accelerate in July.

Explaining that July’s exports amounted to 15 billion 12 million dollars, an increase of 11.5 percent compared to the previous month, Pekcan pointed out that exports exceeded the levels before the Covid-19 outbreak and reached the highest value of 2020, making it the second highest July figure to date.

Stating that exports decreased by 5.8 percent compared to last year due to the high base in July 2019, lack of working days and the effect of the Covid-19 epidemic, Pekcan noted that the daily average exports on working days in July reached 715 million dollars, an increase of 16.8 percent compared to June.

“Highest welcome rate of 2020”

Stating that imports decreased by 7.66 percent annually in July to 17 billion 756 million dollars, Pekcan said:

“While the export-import coverage ratio was 82.6 percent in June, it reached 84.5 in July. The export-import coverage ratio, excluding gold, increased to 93.9 percent. Thus, in July, we reached the highest export value of 2020 with exports of 15 billion 12 million dollars.” “We have reached the highest export-import coverage ratio of the year with 84.5 percent in total and 93.9 percent excluding gold.”

Pekcan pointed out that when gold is excluded from foreign trade data, they clearly see the competitive point that the Turkish economy has reached in the trade value chain, and said, “Gold is a means of savings, a type of capital. Therefore, it would be healthier to consider gold as a capital movement.” made his assessment.

Pointing out that the EU economy shrank by 11.9 percent and the US economy by 32.9 percent in the second quarter of the year, Pekcan emphasized that Turkey’s export value is important and meaningful when these figures are taken into consideration.

“The increasing trend in the main export sectors continued”

Minister Pekcan also stated that they will continue their efforts without interruption to continue the increase in exports and positive performance in foreign trade.

Pekcan pointed out that the increasing trend in the main export sectors after the epidemic continued in July and reported that exports in the automotive sector increased by 10.1 percent compared to the previous month, 41 percent in ready-made clothing and 18.5 percent in textiles.

Stating that exports to the EU increased by 12.8 percent compared to the previous month with the normalization in the main export markets, Pekcan emphasized that the countries to which the most exports were made in July were Germany with 1 billion 458 million dollars, the United Kingdom with 963 million dollars and the USA with 942 million dollars.

Pekcan underlined that there was an increase in the number of exporting companies and said, “While approximately 27 thousand companies exported in April, more than 41 thousand companies exported in July.” shared his knowledge.

Stating that “Despite all the negativities of the pandemic period, Turkey has proven to be a reliable and stable supplier country,” Pekcan said:

“Export figures in June and July have strengthened our belief that the Turkish economy will make a strong exit from the pandemic process and have shown that our country is economically differentiated from other countries in the normalization process. I would like to thank all the employees who contributed to our exports, especially TİM, exporters’ unions and the employees of our ministry. There is still much to go. “We have a way to go, we will continue our work together with our producers and exporters without a break.”

Source: https://www.aa.com.tr/tr/ekonomi/ticaret-bakani-pekcan-temmuz-ayi-ihracatimiz-15-milyar-12-milyon-dolar-oldu/1930758

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