Turkey : Exports to EU on a persistent rise

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Exports to EU on a persistent rise

31
Mar '08

Turkey is shifting from its low price export policy to high quality and high price plan of action to achieve its future target of US $500 billion for 2023.

Turkey's exports are facing a boom and seeing a growth every year and credit for this can be attributed to the 'Export Strategic Plan' of 2004 which has enabled the exporters to exceed their 2007 target of $100 billion.

According to statistics, in 2007, the region has emerged as second in rank for supplying textiles and clothing to EU countries.

In the year 2006, some of the most important export markets for Turkey included EU, US, Russia, Iraq, Romania and UAE.

EU alone accounted for about 51.7 percent of Turkey's exports. While textile exports formed about 30 percent of the total supplies, machinery and agricultural exports amounted to 15.1 and 8.1 percent respectively.

In 2007, textile and clothing imports to EU from third world countries increased by 4.3 percent to reach 78.6 billion euro.

On the other hand, textile and apparel imports made from Turkey in particular increased by 6.5 percent to touch 12.6 billion euro in 2007 compared to the previous year.

Besides, the market share of Turkey in EU also rose to 16.1 percent in 2007 from 15.8 percent of 2006.

This made the country rank second in the list of EU suppliers after China which tops the chart by acquiring 34.6 percent market share of EU.

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