Turkish exports hit $113 billion in 2010

Despite the turbulence in the European Union, Turkey's exports rose to over $113 billion in 2010, according to data released yesterday by the Turkish Exporters' Assembly (TIM). Speaking at a press conference in Ankara, TIM head Mehmet Buyukeksi said Iraq has become Turkey's fifth-biggest export market. The best-performing sector in exports was once again automotives, followed by textiles and chemicals. Turkey's exports rose 11.3 percent in 2010 compared to the previous year, to $113.7 billion, according to TIM. TIM said exports in December rose 21.3 percent year-on-year to $11.56 billion. TIM's press conference was also attended by State Minister Zafer Caglayan and Foreign Trade Undersecretary Ahmet Yakici. Caglayan compared Turkey's potential to a "300-horsepower car that speeds up to 300 kilometers per hour, but one that needs a convenient highway." Turkey's exports broke a record in the pre-global crisis period, rising to $132 billion. The driving force of exports was the automotive sector, as car exports rose 16 percent annually to $17.38 billion. The textile sector posted an annual export rise of 10 percent, accounting for $14.64 billion. The third-best performer was the chemicals sector, as its exports surged 32 percent to $12.72 billion. Agricultural sectors accounted for 13.4 percent of overall exports, while industrial sectors accounted for 82.3 percent and mining for 3.22 percent. The figures show that neighboring Iraq has become Turkey's fifth-largest export destination following Germany, the UK, Italy and France. Exports to "alternative markets" – the United Arab Emirates, Iraq, Iran, Egypt, Libya, Saudi Arabia, China, Syria and Azerbaijan – made up 21.5 percent of all exports. Caglayan said Turkey stands as the number seven country in imports to the European Union. "Our exporters are working, not talking," he said, adding that the December export figure is the highest monthly figure in 27 months. "The data show the increases in exports will continue," Caglayan said, pointing to the government's 2023 target of $500 billion in annual exports.