Turkish exports down 4.9 percent in August
Exports have actually increased in volume terms, but receipts are down due to the devalued euro, Exporters Assembly said
ANKARA
Turkey’s exports declined 4.9 percent in August from the same month in the previous year, the Turkish Exporters Assembly reported on Tuesday.
Exports fell to $10.48 million dollars in August. It was the fourth consecutive month of decline.
Exports have actually increased in volume terms, however, the head of the Turkish Exporters Assembly Mehmet Buyukeksi said in the report.
Exports in August saw an 11.7 percent increase in terms of kilograms, and the overall increase so far this year was 0.8 percent. The value has decreased, however, due to the low value of the euro against the dollar, Buyukeksi said.
Buyukeksi also pointed out that increased volatility in global markets due to expectations of U.S. Federal Reserve rate hikes and China's slowdown is taking its toll on the global economy.
The overall slide in exports since the beginning of the year reached 8.9 percent compared with same period of last year with the total value of exports declining to $95.13 billion.
Turkish exports from January to August of 2014 were $104.43 billion.
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