Turkey’s export environment is strong amid strong demand in major markets

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According to official data, the overall export environment for Turkish manufacturers was driven by demand conditions in some of the country’s major export markets last year, although the turmoil associated with the Omicron variety has clouded the outlook. It was good in December. At 53.9 in December.

According to a study by the Istanbul Industrial Council (ISO) and London-based data company IHS Markit, this has significantly enhanced the health of the export environment and extended the current improvement sequence to 11 months. I am.

Turkish newspapers reported that it was below 55.1 in November, the lowest level since February last year, but the readings were above the threshold level of 50, which separates growth and contraction.

According to official data, the overall export environment for Turkish manufacturers was driven by demand conditions in some of the country’s major export markets last year, although the turmoil associated with the Omicron variety has clouded the outlook. It was good in December. At 53.9 in December.

This index is calculated by summing up the National Purchasing Managers Index (PMI) data on output trends from PMI surveys.

The panel said that the export environment for Turkish manufacturers continued to improve overall until the end of 2021, but demand conditions were strengthened amid the emergence of Omicron variants and pandemic-related turmoil in some major exports. Said it was the softest in 10 months. market.

Trade with Ankara’s largest partner was hit after the 2020 pandemic, but Turkey’s exports reached a record high in 2021, rising nearly 33% to $ 225.4 billion. It far exceeded the goals of the country’s medium-term program. data.

As a result of this achievement, the export target for 2022 has been revised upward from $ 231 billion to $ 250 billion.

Due to the surge in overseas sales, the trade deficit decreased 7.8% year-on-year to $ 45.9 billion. Imports in 2021 increased 23.6% to about $ 271.4 billion, while overall foreign trade jumped to $ 496.7 billion.

Fiber2Fashion News Desk (DS)

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Turkey’s export environment is strong amid strong demand in major markets

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The post Turkey’s export environment is strong amid strong demand in major markets appeared first on Eminetra.

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