Turkey enjoys revival in exports to EU market

The FINANCIAL — Turkish exporters have been buoyed by the past few months’ noticeable increase in sales to the EU, one of Turkey’s traditional export markets.

Turkey sustained a heavy decline in exports to the EU following stagnating demand during a 2009 global financial bottleneck. Exporters are now endeavoring to regain their market share in the EU export market. Officials from the Turkish Exporters’ Assembly (TİM) said Sunday that members were encouraged by a pick-up in Turkey’s exports to European markets since the beginning of the year. According to the latest TİM data, Turkey’s exports to Germany were up 18 percent in the first quarter of 2010 as compared to the same period of 2009. The increase to Italy was 38 percent, while Turkey enjoyed a 39 percent rise in exports to France and the UK each in the same period. Turkey’s exports to Spain climbed 54 percent, 30 percent to Romania and 45 percent to Sweden in first three months of this year as compared to same quarter of a year before. TİM officials also said the recent removals of visa requirements with several neighboring countries had a positive impact on Turkey’s exports to these markets. Exports to Russia jumped 23 percent and to Iran by 35 percent. Israel, Saudi Arabia and Turkmenistan were among the countries to which Turkey boosted its exports, with 46, 37 and 61 percent increases, respectively, in the first quarter of 2010 over the same months of 2009.