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İsmail Gülle, Chairman of the Turkish Exporters Assembly (TİM), made predictions about exports. In a TV program he participated in, he stated that exports would reach $260 billion by the end of the year.

The Turkish economy has taken a solid stance during the Covid-19 pandemic, which has shaken the global economy. Turkey's exports increased by 32.8% in 2021 compared to the previous year and reached $225 billion 291 million. Gülle stated that the diplomatic move that started under the leadership of President Erdoğan further strengthened the exporters. They are exporting to the USA, United Arab Emirates, and Israel with commercial delegations. In other words, there are positive developments in the Turkish export world.

Exports broke a record in seventeen of nineteen months. While sharing his year-end expectations, Gülle emphasized that the targets will be exceeded in 2022. “In 1970, our exports were 1 billion dollars. In the late 80's it was $10 billion. Then, $20 billion in the 90s. In the 2000s, it was $30 billion. Today we are talking about 250 billion dollars. In March, our exports from year to year reached 235 billion dollars. So, it will only take us 3 years to move to triple digits. In 2023, Turkey will reach 300 billion dollars."

3,000 Applications to JSC

Gülle also made important emphasis on the Export Development Joint Stock Company (JSC). It aims to expand the access to finance of exporters of goods and services through credit guarantees and surety applications. Türk Eximbank and TİM established JSC as partners. JSC, which started its operations on March 1, has received 3,000 applications so far. Up to 10% of the applications were used for loans. JSC's equity support package provides loans to SMEs having difficulty in accessing finance, through sureties.

JSC is only available to exporters. It is a fund that aims to eliminate the collateral problem in exporters' access to finance. Thus, exporters will not have to mortgage their factory and land to the bank to get a loan. In other words, the bail problem will disappear.

The company emerged on October 14, 2021, with a capital of 10 million Turkish liras. TİM has a 95 percent (₺9 million 500 thousand), and Eximbank has a 5 percent (₺500 thousand) share. In the future, other exporting unions will be joining the company. Law studies continue for 61 exporters' unions to become partners with the company with the necessary capital contribution.

JSC works in line with its export-oriented growth model target. It operates as a specialized fund for companies dealing with export and foreign exchange earning services. As a result, it will increase the export volume. It will do this by spreading exports to the base.

Additional Capital Contribution

Certain deductions are made from export transactions carried out through exporter associations. The company will transfer these deductions to the company's capital. Therefore, JSC will have an additional capital contribution. As a result, it will ensure that the HDI is in a consistently strong financial structure. It will also create a self-renewing capital structure. By doing all these, JSC aims to provide continuous and effective service to exporters.

The Ministry of Trade plans to remove the obstacles in front of the exporter with these efforts. It also consolidates its position in existing markets. It mobilizes its opportunities for all kinds of initiatives that will serve the purpose of entering new markets.

Increase in Exports of Agricultural Products

Among the issues that Gülle evaluated was the increase in the export of agricultural products. He responded to the comments that the increase in exports caused a rise in prices in the domestic market.

He stated that only 10 percent of the total production in agriculture was exported. "Our fresh fruit and vegetable production is 55 million tons per year. I asked the chairmen how much of it we export. Only 8 percent of it. In other words, we export a figure of 4.5 million tons. Let's take, for example, tomato exports. We have 13 million tons of tomato production. We are exporting 1.2 million tons of it. That is about 10 percent."

He pointed out that an export figure of 250 billion dollars was on the carpet. "We need to look at the magnitude of it. We export only 10 percent of agricultural products. Thus, we should not harm this great value in exports over the prices of some agricultural products."

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Almost all provinces in Turkey increased their exports in the first quarter of the year. According to the Turkish Exporters Assembly data, there was an increase in exports in a total of 64 provinces. Thus, Turkey's exports in the January-March period reached 60 billion 288 million dollars, increasing 20.8%. Istanbul led the way in exports, followed by Kocaeli and Bursa.

Although most of the exports were carried out by big cities and provinces in the western region, 64 provinces in total increased their exports. The spread of exports throughout the country is important for the realization of the annual target. So, what does the increase in export figures indicate? Here, in the light of current data and possible scenarios, what is the latest situation in the Turkish economy?

Provinces in Marmara Region Come to the Forefront in Exports

The Marmara region is the cradle of production in Turkey due to its geographical location and trained manpower. The region, which is a pioneer in the industry, agriculture, tourism, and service sectors, draws attention with its value-added products. Exports are increasing in the region, where logistics diversity has increased with the mega transportation projects carried out in recent years. Kocaeli and Bursa came to replace Ankara and Izmir after Istanbul is one of the biggest proofs of this. So, what is the current situation in these provinces?

Top Three Provinces in Exports

Excluding exports from free zones, provinces in Turkey increased their exports by 24.4%. Thus, exports in the period from January to March reached 55 billion 149 million dollars. While 64 of 81 provinces increased their exports, the decrease in exports in 6 provinces remained in the single digits. Istanbul was once again at the top in this field by realizing more than 25% of exports.

Istanbul

In the January-March period, the highest export was made by Istanbul with 24.05 billion dollars. Istanbul is followed by Kocaeli with 4.76, Bursa with 3.87, and İzmir with 3.37 billion dollars. Istanbul takes the lead in production with its logistics capacity as well as hosting the important financial institutions of Europe. Having the largest airport in Europe and being convenient for land and sea transportation provides an advantage to Istanbul. Istanbul makes serious exports in the textile, chemical and automotive sectors.

Kocaeli

Kocaeli, which is in the second place, draws attention with its proximity to Istanbul and agricultural cities. Gebze Organized Industrial Zone and the Dilovası region are the two regions where the most intensive production is made in Kocaeli. Kocaeli produces especially in automotive, chemistry, and other heavy industry branches. Kocaeli, which holds more than 15% of the Turkish manufacturing industry, generally exports to European Union countries. The ports established around the Gulf of Izmit are of great importance in logistics and transportation.  Between January and March, Kocaeli increased its exports by 917 million dollars. Thus, exports increased by 23.9%.

Bursa

Ranking third, Bursa is one of the oldest cities in Turkey. Just like Kocaeli, Bursa is located close to the industrial and agricultural cities. Bursa is a leading city in the agriculture, livestock, fertilizer, and automotive sectors. It has Turkey's largest factories, especially in the automotive sector. Considering that Turkey's first domestic automobile factory will be opened in Bursa Gemlik, exports will increase significantly in the future.

Other Major Cities Followed the Ranking

After Bursa, the fourth most exporting province was İzmir. The export amount of İzmir was 3.37 billion dollars. Gaziantep, Ankara, and Sakarya were other cities with high export rates. Especially in Gaziantep, the increase in organized industrial zones, pasta production and research and development studies of established universities have been effective in recent years. While other big cities such as Manisa and Hatay came to the fore with their agricultural exports, Denizli exported textiles and wine.

The Provinces Whose Exports Increased the Most are from the Eastern Anatolia Region

Kars was the province with the highest proportional increase in its exports in the first quarter of the year. Kars increased its export rate by 231.7 percent. After Kars, the province that increased its exports the most was Bingöl. Bingöl's export increase rate was 175.2%. The provinces whose exports fell the most were also from the Eastern Anatolian region. Adıyaman and Muş were recorded as the two provinces whose exports decreased the most. While Adıyaman's export rate decreased by 60.2%, Muş's exports decreased by 51.1%.

Export Figures Are in Line with 2022 Target

Turkey can reach its export target of 250 billion dollars by 2022 if it goes at this rate. The monthly extra export target of 2.1 billion dollars was exceeded for the first quarter of the year. Big cities need to increase their export rate to reach the general target. Export targets seem possible with increasing logistics, research and development, and government contribution.

The trade between the USA and Turkey, which has been going on for years, has continued to increase without slowing down. The trade volume between the two countries continues to increase since the visit of the United States President Barack Obama in 2009.

The USA's Importance in World Trade

The USA is the world's largest importer with $2.4 trillion in imports and $1.4 trillion second-largest exporter in the world after China. Furthermore, The USA is the world's largest exporter and importer of services trade. The USA has 27 markets with an export volume of over $10 billion. In addition to the important export markets of the USA, Venezuela, India, and Egypt have recently come to the fore as emerging export markets. Major U.S. exports goods are nuclear reactors, petroleum and mineral fuels, oils, electrical machinery, and equipment.

The USA has been importing mostly from China since 2007. Recently, countries such as Singapore, the Netherlands, and Saudi Arabia have come to the fore in imports. Canada is the leader in the USA's export countries with 355 billion. Turkey is in 5th place with 10 billion dollars.

The Trade Between Turkey and the USA

The United States exported $10.7 billion to Turkey in 2020. The main exports by the United States to Turkey are planes, helicopters, and/or spacecraft with $1.42 billion, petroleum gas with $1.35 billion, and scrap iron with $1.1 billion. Over the last 25 years, US exports to Turkey have climbed at a yearly pace of 4.62 percent, from $3.46 billion in 1995 to $10.7 billion in 2020.

Turkey exported $10.3 billion to the United States in 2020. Turkey's largest exports to the United States were hand-woven rugs with $884M, gold with $502M, and jewelry with $321M. Turkey's exports to the United States have climbed at a yearly rate of 7.4 percent during the last 25 years, from $1.72 billion in 1995 to $10.3 billion in 2020.

Record Exports from Turkey to the USA

Turkey continues to export to its significant markets without slowing down. Exports to the USA, which is among the leading markets, are also reaching higher levels. The demand for Turkish products in the USA, which has an economy of 20 trillion dollars, continues to increase. Turkey maintains its feature of being a center of attraction for world brands. Furthermore, the increase in trade between the two countries enables Turkey to get more effective results in foreign sales to the USA.

US companies operating in Turkey expand their commercial activities in Turkey. Accordingly, the two countries are taking firm steps towards the agreed-upon $100 billion trade volume target.

In fact, Turkey reached the highest 1st quarter export of all time with 3 billion 481 million dollars to the USA. Thus, foreign sales to the USA increased by 28.9 percent in the January-March period. The USA's share in Turkey's exports was 5.8 percent.

Besides, the USA became the second country to which Turkey made the most foreign sales in the first quarter of the year. The USA was also recorded as the market in which Turkey's exports increased the most in terms of value. Turkey's exports to the USA increased by 779 million 972 thousand dollars in the January-March period.

Industrial Products were the Leaders in Exports

Industrial products came to the fore in exports to the USA. Last month, the country made the most exports in the steel industry with 372 million 810 thousand dollars. The automotive industry followed the steel industry with 357 million 177 thousand dollars. Other impressive exports were chemical substances and products with $326M, and jewelry with $258M. Finally, the smallest export products were ornamental plants and products with 329 thousand dollars.

Steel Sector is at the Top of Export Growth

Moreover, the sector that increased its exports to the country the most was the steel sector with 221 percent. Olive and olive oil followed the steel sector with 194 percent. In the January-March period, the olive and olive oil sector exported 32 million 403 thousand dollars. During the same period, Turkey exported 191 million 566 thousand dollars of cereals, pulses, and oilseeds.

On a provincial basis, companies from Istanbul made the highest export sales to the country with 1 billion 338 million dollars. Bursa was the second with 335 million 309 thousand dollars. Moreover, Gaziantep, İzmir, and Ankara followed Bursa respectively.

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President Recep Tayyip Erdoğan’s recent visit to the United Arab Emirates (UAE) boosted Turkish exports to the Gulf country. February foreign sales figures reflected the countries' warming ties. As a result, Turkey's exports to the UAE soared by 52.4 percent last month compared to the previous month.

Exports to the UAE were $303.24 million in February, up 29.1 percent over the same month the previous year. In February, the Gulf country climbed to 17th place among Turkey's top export markets. The visit was a significant step in strengthening the two countries' political and economic ties. 

It followed Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan's (MBZ) visit to Turkey on November 24, 2021. It was the first since relations halted in 2012. During the visit, Turkey and the UAE signed 13 agreements in a variety of categories. 

Jewelry Tops Exports

With $90.86 million, the jewelry industry contributed the most to the UAE exports in February. It was followed by the defense and aerospace industries, which received $35.38 million. Chemicals and goods received $22.74 million. The carpet industry followed with $15.76 million, and grains, pulses, oilseeds, and products, received $15.6 million.

During that time period, the jewelry industry had the greatest rise in international sales to the country in terms of value. Exports of jewelry to the UAE climbed by $44.9 million in February compared to the previous month. Last month, Istanbul had the biggest number of international sales to the UAE, contributing $162.47 million in exports.

Regional conflicts, such as the crisis in Libya, have strained relations between the two nations. This was due to the UAE and Turkey supporting opposite sides in recent years.

Relations reached an all-time low when Erdoğan stated that Ankara may terminate diplomatic relations with Abu Dhabi. This was following the UAE's deal with Israel. Turkey has supported Qatar in a Gulf conflict, putting it at odds with the UAE, Saudi Arabia, and Egypt. Turkish assistance last year helped Libya's UN-backed government in Tripoli repel UAE-backed troops seeking to capture the capital.

Turkey & UAE Relations

Turkey and the UAE signed 13 cooperation agreements in various areas. This was during President Recep Tayyip Erdoğan's visit to the Gulf country as part of the two regional powers' normalization effort. The bilateral agreements were struck during Erdoğan's first visit to the UAE in a decade. The two nations mended ties frayed by years of antagonism in a move toward economic engagement.

During the meeting between the Turkish and UAE delegations, agreements on the defense industry, health, climate change, industry, technology, trade, economy, culture, agriculture, trade, economy, youth, transportation, disaster management, meteorology, communication, and archives were signed.

According to Turkish sources, they anticipated agreeing to officially begin discussions for a trade and economic deal. And decided to sign a letter of intent to begin consultations on military sector collaboration. Erdoğan stated that "the complementary structure of the two nations' economies really speaks to a potential considerably above the existing estimates." "The objective of our visit is to fast realize this potential," he continued.

According to the official WAM news agency, Erdoğan and MBZ addressed the potential for collaboration, notably in the economic and development spheres, as well as the most recent regional developments. MBZ praised the two nations' agreements and memorandums of cooperation struck during Erdoğan's visit to the UAE.

The Future Seems Bright Between Two Nations

The agreements, according to MBZ, "laid the groundwork for the launch of new economic and trade partnerships between the two countries." And it "emphasized the UAE's eagerness to strengthen this partnership and push it forward in the coming period to double the volume of trade exchanges between the two nations."

MBZ stated that the UAE was eager to work with Turkey. "As a means to face various common difficulties the region is facing" via conversation and diplomatic resolution. The UAE is facing a rising danger from Yemen's Iran-backed Houthis. They have conducted repeated drone and missile assaults on the Gulf country. Which lead the UAE to boost defense cooperation with the US and France.

Erdoğan stated, "Turkey and the UAE can contribute to regional peace, security, and development." In his speech, the president also stated his desire to cooperate more closely with the UAE on a variety of issues. These issues include "climate change, water, and food security."

President Erdoğan's important visit will provide more impetus to deepening cooperation and developing a new prosperous phase of partnerships for the greater welfare of the two countries, their peoples, and all the nations of the region.

Strengthening Collaboration

The two leaders discussed the potential of further cementing bilateral relations. Developing cooperation and joint work between the two nations in many domains were priorities. As well as the current regional and international issues and developments of relevance.

The crown prince expressed gratitude for Ankara's "friendly posture" and its criticism of Houthi attacks on the UAE. He wished Turkey "continued security, stability, and prosperity." The crown prince also sent Sheikh Khalifa bin Zayed Al Nahyan's wishes for the Turkish president's "continued good health and happiness, as well as further stability, progress, and prosperity for his nation."

In the spirit of "strengthening collaboration and cohabitation to achieve growth, prosperity, and stability," the crown prince said his country "welcomes every step on the road to cooperation, understanding, and peace in the area." He emphasized the UAE's desire to "cooperate with Turkey to address the region's various mutual issues. And further the communication, understanding, consultation, and diplomatic solutions."

Turkey sold honey worth $7 million 131 thousand 895 to 36 countries in January-February 2022. Ahmet Hamdi Gürdoğan, Vice Chairman of the Eastern Blacksea Exporters’ Association, evaluated the export data.

In the first two months of the year, exporters sold 2 thousand 844 tons of honey. Turkey earned 7 million dollars in two months from honey exports.

Gürdoğan stated that the exporters earned $7 million 131 thousand 895 in two months. "Our country exported honey to 36 countries in two months. The USA, Spain, and Germany were the top 3 countries to buy honey. In this period, the USA purchased $1 million 651 thousand 807 worth of products. Spain imported $1 million 463 thousand 621. On the other hand, Germany bought 990 thousand 454 dollars worth of honey.

During this period, Spain was the country that increased its export potential the most. Compared to the same period of the previous year, there was a 130 percent increase in the value of exports to the USA. The increase in the amount was 44 percent.

Unlike the same period last year, Turkey added other countries to its export list. Israel, Poland, Hungary, Kosovo, Bosnia-Herzegovina, Slovakia, Lebanon, Yemen, Iraq, TRNC, Singapore, Mauritania, France, Switzerland, Bangladesh, Cape Verde, North Macedonia, and Taiwan became the new countries on the list.

Great Demand for Honeydew Honey

Gürdoğan stated that the most exported type of honey from Turkey is honeydew honey. "Due to the forest fires that took place in the Aegean Region last year, which burned us, the production of pine honey took a big hit. Therefore, this situation inevitably reflected negatively on exports."

Vice Chairman noted their expectations for 2022 exports are high. Especially this year, heavy snowfall will make a significant contribution to the vegetation. Thus, they are hopeful that the production of blossom honey will reach a significant level. Ahmet Hamdi Gürdoğan added that the emphasis should be on products with the brand name of honey and high-quality small packages.

The Rise in 2021 Continues

Turkey had shown great success in honey exports in 2021 as well. The country sold 9,875 tons of honey to 55 countries in 2021. It generated 30 million 498 thousand 600 dollars income from this export. Compared to 2020, honey exports increased by 65% ​​in quantity and 18% in value. The countries that showed the highest demand for Turkish honey were similar to this year's last year. The USA, Germany, Spain, Bulgaria, and Israel were the countries that imported the most honey in 2021.

The USA ranked first in honey exports with 8 million 860 thousand 506 dollars. This country was followed by Germany with 6 million 940 thousand 35 dollars. Spain, on the other hand, made imports of 2 million 261 thousand 335 dollars in 2021.

Eastern Black Sea Region Ranks First in Honey Production

The Eastern Black Sea Region, which includes Trabzon, Ordu, Giresun, Gümüşhane, Rize, and Artvin, exported honey to 18 countries last year. This figure is an indicator of how important the region is for the country's economy. Moreover, it emphasizes the quality of honey produced in the region. The region generated 2 million 95 thousand 591 dollars in return for 564 tons of honey export. Compared to 2020, exports increased by 41% in amount and 63% on an income basis last year. The country that imported the most honey from the Eastern Black Sea region was Germany. Germany bought 719 thousand 568 dollars worth of honey from the Eastern Black Sea Region.

Pandemic and Forest Fires Did Not Interrupt Production

Due to the COVID-19 pandemic, people are showing more interest in food supplements than ever before. Honey is one of these food types. Therefore, depending on the interest, the tendency to the production of supplements with honey has increased. This development had a positive impact on the industry. Reaching 52 countries in 2020, honey reached consumers in 55 countries last year.

Forest fires in the Mediterranean Region last year had a negative impact on pine honey production. Despite this, it was pleasing that the export year ended with an increase. Interest in Turkish honey continues to grow.

Beekeeping Is Indispensable

Bees are among the most important creatures in the ecosystem. The honey we consume today comes to the table thanks to the bees. With the pollen that bees carry, countless necessary things for life reproduce. 80 percent of flowering plants and trees reproduce thanks to the pollen carried by the bees. While bees do these, they also produce honey. Beekeepers in Turkey pay great attention to their work. Therefore, they produce high-quality honey.

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The first quarter of 2022 and especially March was an important period in terms of exports. According to the data, Turkey reached the highest first-quarter performance and the highest monthly export figure in its history. Total exports in March were 22.7 billion dollars. At the meeting attended by the Turkish Exporters Assembly and Trade Minister Mehmet Muş, the details regarding the issue were announced. The event, in which the progress so far and the future were shared, was very productive. So, how did 2022 start in exports, which sectors came to the fore, and which countries did Turkey export to the most?

March 2022 Exports Went Up as Regards the Previous Year

Turkey's exports in March 2022 increased by 19.8% compared to the same month of the previous year. Moreover, the number of exports reached 22.7 billion dollars. With this figure, March was the month with the highest exports in the history of the republic. Likewise, Turkey reached the highest export rate in the history of the republic, according to its performance in the first quarter of 2022.

Thus, the ratio of exports to imports, excluding the energy sector, rose to 95% in Turkey. Although export expectations and production capacity were decreased all over the world, March was quite productive in Turkey. In the first quarter, Turkey's total export amount exceeded 60 billion dollars. If the current conditions continue, it will be easy to reach the annual target of 250 billion dollars in export.

So, which were the provinces that increased their exports the most? 61 provinces increased their exports in March. The top 3 cities with the highest exports were Istanbul with 9 billion, Kocaeli with 1.9 billion, and Bursa with 1.3 billion dollars. Apart from these cities, other provinces attracted attention with their increase in exports. İzmir, which increased its exports by 255 million dollars, Ankara, which increased by 241 million dollars, and Denizli, which increased by 150 million dollars. On the other hand, 18 provinces in Anatolia broke their own export records. Another remarkable point in this period was the trade with the Turkish lira. Turkey exported 9.8 billion TL in total. Compared to the previous year, the trade made in TL increased by 72%.

Chemical Sector Comes to the Forefront in Exports

A total of 20 sectors increased their exports in March. The Chemical, automotive, and steel sectors are in the top three ranks. While the chemical industry, which exports close to 3 billion dollars, took the first place. The automotive industry reached 2.7 billion dollars, and the steel industry came in third with 2.3 billion dollars. The sectors experienced an increase of approximately 50% compared to last year, and 9 sectors broke export records in March. In addition, the number of exporting companies is increasing in every sector. 1.986 companies exported for the first time in March. The total export of new companies in March was 105.7 million dollars. The total number of exporting companies in March was 47.981.

Which Countries Has Turkey Exported to the Most?

Turkey exported to 218 countries in total in March. It managed to increase its exports to 159 countries. The country to which Turkish exporters exported the most was Germany. Exports of 1.9 billion dollars to Germany were followed by the USA with 1.6 billion dollars and Italy with 1.3 billion dollars. Exports to 33 countries, including the USA, Israel, and Germany, broke a record. The European Union and Mediterranean countries are the markets to which Turkey exports the most.

Looking at exports by country groups, exports to the European Union, Turkey's largest commercial market, reached 10 billion dollars with an increase of 27 percent. The share of the European Union in exports was 44 percent. When other European countries other than the EU are included, the share of the European continent in March exports was 54 percent.

In addition, the opening of the 1915 Çanakkale Bridge will make a positive contribution to exports to the European Union. With the 1915 Çanakkale Bridge, Turkey's logistics competence will increase even more, and it will gain a significant advantage in exports to Europe. In the group of countries other than Europe, Turkey exported 4 billion dollars to the Near and Middle East countries. It exported 2.3 billion dollars to the entire African continent, 1.8 billion dollars to North America, and 1.6 billion dollars to the Far East countries.

$250 Billion Target is Close to Realization

The total export target set for 2022 is 250 billion dollars. For Turkey to achieve this goal, it needs to export 2.1 billion dollars more every month compared to the same month of the previous year. It is possible that Turkey, which made an extra export of 10 billion dollars in the first quarter, will reach its target by the end of the year.