THE GLOBAL WINDOW OF TURKISH FOOD AND AGRICULTURE The Global Window of Turkish Food and Agriculture Sector
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Turkiye reached the highest figure in history on a monthly basis with an increase of 17 percent in January, with 17.6 billion dollars. Aegean Exporters’ Associations (EİB) contributed to this record by boosting its exports by 29 percent, with a contribution of 1 billion 372 million dollars.
EİB’s export growth is above Turkey’s average…
Aegean Exporters’ Unions Coordinator Chair Jak Eskinazi said that 11 Associations ramped up their exports in January, while 1 Association lagged behind the previous period’s performance.
Eskinazi said, “While Turkiye’s exports soared by 17 percent in January, we, as Aegean Exporters’ Associations, increased our exports by 29 percent. Our export growth is above the national average. The import-export coverage ratio is 62.8 pct in the first month of 2022. Imports increased by 55 percent to 28 billion dollars in January. Foreign trade deficit amounted to 10.4 billion dollars.”
“This increase indicates that imports alarm us and that production is getting harder in Turkiye. These rates increase the dependence of exports on imports even more. We need to boost our exports with domestic production. We have been expressing our expectation that the obstacles in our exporters’ access to finance should be removed on every platform for two months. The Central Bank needs to clear the bottleneck in Rediscount Credits,” Eskinazi added.
“For new export-oriented investments, medium and long-term rediscount credits originating from the CBRT should be offered to exporters again and increased. While the policy rate of the Central Bank is 14 percent, banks provide loans with 30-35 pct. As the Aegean Exporters’ Associations, which achieved the 2023 target in 2021, it is our greatest wish to update this ratio in a way that the exporter can pay and to take measures to relieve the exporters,” Eskinazi concluded…
