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JAK ESKİNAZİ: EXPORTERS MAY FACE A CAPITAL EROSION BECAUSE OF HUGE HIKES IN COSTS

Press release…

Aegean Exporters’ Associations (EİB) ramped up its exports from 1 billion 281 million dollars to 1 billion 634 million dollars with a spike of 28 percent in March and broke the record in the history of the Republic on a monthly basis. All 12 exporters’ associations under the umbrella of EİB managed to rise their exports in March.

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Jak Eskinazi

Aegean Exporters’ Associations boosted its exports from 3 billion 512 million dollars to 4 billion 442 million dollars with an increase of 26 percent in the first quarter of 2022, while the annual export of EİB soared by 30 percent from 13 billion 275 million dollars to 17 billion 238 million dollars.

Eskinazi: “Cost increases are worrying”

Stating that Turkiye has become the centre of attraction for the whole world after the pandemic, Aegean Exporters’ Associations Coordinator Chair Jak Eskinazi said that they do not experience a demand-side problem in export markets and that they have difficulties in keeping prices because they have entered an inflationary environment.

Eskinazi warned exporters to be more careful while giving prices and said, “Annual inflation figures have reached 115 percent in producer prices, according to TURKSTAT. In such an inflationary environment, our exporters may face a capital erosion (meltdown) if they cannot make the right cost calculations in an environment where huge hikes in energy and raw material prices occur every day.”

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