Turkish exports reach new record heights

Turkey Economy Minister Zafer Caglayan has revealed that Turkish exports have reached a new record high with exports of $133.97 billion in the last 12 months.

Speaking during a conference hosted by the Ankara Chamber of Commerce (ATO) in Ankara, Caglayan said that the new figures were the highest level of exports in the history of the republic. Caglayan said: “This is a success which many could not even dream of, but we are here to work harder, and even exceed these figures in exports.”

The new figures beat the previous best of $132 billion in exports that Turkey produced in 2008. Caglayan said that Turkey currently has plans to reach $500 billion worth in exports by the year 2023 – the centennial of the republic and the deadline by which Turkey have set themselves to get into the top 10 economies in the world.

The Economy Minister revealed that Turkey is set to increase the number of trade offices abroad from 109 currently to around the 250 mark in the future to help attract more foreign direct investment to Turkey. Caglayan said: “Our trade representatives in Europe tell us that investors, particularly from the UK, Italy and France, are interested in new investments in Turkey.” Caglayan went on to say: “One important fact was that 87 percent of international capital inflows to Turkey in the given period were from financially troubled EU countries, Turkey maintained its appeal to European investors despite the ongoing crisis.”

Speaking of why Turkey is such a hotspot for investment, Caglayan said that the political stability in Turkey plays a crucial role in the economic growth and development of Turkey in recent years.

One Response to “Turkish exports reach new record heights”
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  1. […] Turkey’s exports in 2011 reached unprecedented levels never seen before in Turkey, measuring in at USD 134.6 billion at the end of the year, an 18.2 percent increase over 2010. […]

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