Turkey's exports surge 11 percent in September

Turkey's exports reached $12.5 billion in September with an 11 percent rise, corresponding to an increase of 0.6 percent over the same period of the previous year, according to figures announced by the Turkish Exporters Assembly (TIM) President Mehmet Buyukeksi during a press conference in the province of Artvin on Tuesday. According to the figures, exports increased by 0.6 percent in the last nine months, reaching $980 billion, whereas the 12-month cumulative number added up to $151.53 billion, registering a 3.3 percent increase. The sector with the greatest increase in foreign sales in September was ship and yacht construction, with a 695 percent increase over the same month of the previous year. With signs of economic recovery in the European market, Turkish exports to the EU climbed by 12 percent. Underlining that the EU market continued its uninterrupted growth in the last quarter, Buyukeksi noted that Turkish exports to Germany rose by 7 percent, to France by 17 percent, to Italy by 14 percent, and to Spain by 21 percent. Also referring to the US Federal Reserve's (FED) decision to stall its exit strategy from the bond-buying program, Büyükeksi pointed out that although this decision would continue to affect emerging economies, including Turkey, the future of Turkey's exports was not tied to the policy moves of the FED and that Turkey should not allow itself be confused by statements from the FED.