Turkey clocks highest-ever RMG exports (US $ 19.5 billion) in Jan.- Nov. ’22 | Trade Data News Turkey

Turkey has clocked US $ 19.50 billion in January to November 2022 period, growing by around 5.80 per cent Y-o-Y, as per the data released by the Turkish Exporters Assembly (TIM).

The export revenues earned by Turkey in the first 11-month period of 2022 are the highest-ever and TIM reveals that the growth is driven by soaring demand from Europe amidst supply chain bottlenecks and soaring shipping costs.

Outbound shipments of the country in the said period amounted to US $ 231.20 billion, according to official data. Exports in November alone rose by 1.90 per cent, reaching US $ 21.90 billion, marking the highest November sales so far.

The RMG industry, however, saw a decline of 5.40 per cent in in November ’22 as exports valued US $ 1.63 billion, as compared to US $ 1.73 billion in November 2021.

The European Union imported US $ 920 million worth of Turkish ready-to-wear goods in November ’22, followed by the Commonwealth of Independent States with US $ 200 million, and other European countries with US $ 188 million.

Cumulatively, US $ 12 billion of 11-month exports sales went to EU nations, as the data showed, in addition to US $ 2.50 billion and US $ 1.60 billion in exports to non-EU and Middle East countries, respectively.

Source link