Turkish exports surge, Erdogan vows to compete with adults

Mehmet Abdul Malik-Istanbul

Official Turkish reports revealed that the value of the country's exports of products and goods increased by 15.7% month-on-month in September compared to the value of exports in August, which amounted to more than 15 billion US dollars.

According to reports of the Turkish Ministry of Commerce, the total value of Turkey's exports during the first nine months of this year amounted to 132 billion and 505 million dollars, up 2.56% year on year.

This comes at a time when the Turkish Statistical Authority data revealed that the consumer price (inflation) rate fell to single digits year on year in September to reach 9.26%, for the first time since July 2017.

Government pledges
These figures prompted President Recep Tayyip Erdogan to pledge his country's continued work to enter among the world's top ten economies, while Turkish Finance and Treasury Minister Barat Albayrak pledged to bring success in reducing inflation and achieving the current balance to all areas of the economy.

According to official Turkish statistics, the country's imports in September amounted to about 16.996 billion dollars, an increase of 0.15% compared with the same month last year, amid a decline in the external trade deficit during the same period by 59.2% to 21.4 billion dollars after it was $ 52.5 billion in September 2018.

Perhaps the most important factors that helped Turkey achieve these positive numbers in the economy ladder, according to Turkish experts who spoke to Al Jazeera Net, is the package of economic, political and security measures taken by the government to face the economic war as well as the plan followed by the Turkish Central Bank and the Ministry of Finance recently and succeeded in regaining the pace of decline in Consumer Price Index.

According to experts, these measures have contributed to bridging the gap between the country's exports and imports, which narrowed to 14.4% during the first eight months of this year, in addition to Turkey's determination to stop borrowing from the International Monetary Fund permanently.

Minerals such as copper, iron, mercury and manganese are the main commodities exported by Turkey, as well as in agriculture and food. Turkey exports cotton, figs, grapes, olives, wheat flour, barley and vegetables.

In the industrial field, it focuses on the export of vehicles, textiles, garments, jewelery, chemicals, animal and vegetable oils, plastics, raw timber, products, tools, household items and auto parts.

Turkey plans to export its military defense products worth $ 3 billion in 2019 and gives priority to exporting its domestic defenses to reconnaissance and military drones, guided missiles as well as amphibious tanks.

Incentives for exporters
The head of the Turkish and Arab Businessmen Association, Jamal Karim, believes that the most important indicators of Turkey's foreign trade are the country's recent exports to more than 90% of the volume of imports, especially since Turkey began to focus on high-tech products and stimulate the AKP all exporters. They were given diplomatic passports to roam around the world freely, which contributed to increased exports.

Jamal confirms that exports in Turkey have come a long way in the last five years, where coordination and cooperation between the private sector and the government sector has been great. Young to the largest exporters of Turkey.

In terms of product upgrading, Turkey has prioritized high-value goods in addition to small-source capital support programs, as well as supporting exhibitions held outside and inside Turkey so that SMEs will pay a large part of the costs of participating in international and local exhibitions, according to Karim .

The spokesman added that the Ministry of Commerce supports Turkish companies that export goods to many countries, and encourages the exporter to open branches of the company around the world, and is responsible for part of the expenses of the branch of headquarters rentals and salaries of employees.