Evaluating export activity in 2009, Büyükekşi said the country had sustained significant losses due to a contraction in demand in traditional export markets such as the EU but that the recent recovery in exports was encouraging.
He said Turkey’s exports had started to pick up in October and that they expect an increase of around 20 to 30 percent in December exports over the same month of 2008. “We expect to retain our position among those countries with more than $100 billion in annual exports. This could help revive hopes for 2010.”
The $100 billion figure is considered a psychological barrier by most exporters.
Turkey makes 55 percent of its exports to EU countries, he said, and exports to the EU declined by around 35 to 40 percent. Turkish exporters had sought new markets, expecting to compensate for such losses. “We have taken business trips to countries in South America, Africa and Central Asia within the past few months, to which Turkey exports relatively less, and we have recently started to see the benefits from such initiatives,” he noted. He said the country had enjoyed remarkable increases in exports to countries particularly in Africa and the Middle East. The TİM head said they had conducted market research jointly with the government and would focus more on increasing exports to South America and Africa in 2010.
With regard to fluctuations in exchange rates, Büyükekşi said the rate needed be lower than the current figure to increase exporters’ competitiveness. “The exchange rate should be kept at a fixed value, above TL 1.5, and the necessary steps should be taken to stop the US dollar from further losing value against the Turkish lira.”
