Turkey raises exports further in May

Turkey’s exports have remained firm throughout May, rising by 5.8 percent from same month last year to $13.4 billion, according to the Turkish Exporters’ Assembly (TİM).

The country’s exports rose 8.5 percent and reached $67 billion, whereas imports slumped 4.2 percent during the month, narrowing the trade deficit by almost a quarter, 24 percent, TİM Chairman Mehmet Büyükekşi announced June 1 in a meeting in the southeastern province of Şanlıurfa.

Büyükeşi has particularly praised Şanlıurfa for its contribution to Turkey’s trade, saying the province has retained a 25 percent exports rise in the first five months of the year.

“We believe Şanlıurfa will undertake more exports in the upcoming years,” Büyükekşi said.
The top representative of Turkish exporters also reiterated his call to the Turkish Central Bank for a reduction of interest rates and taking necessary measures needed to bring the Turkish Lira/dollar ratio between the 2.15-2.20 level.

The ratio has mostly been hovering between the 2.08-2.10 level as the Central Bank keeps the monetary policy tight as part of its fight against inflation.