Chairman of Turkish Exporters’ Assembly Mehmet Büyükekşi stated that the use of Turkish Lira in foreign trade was increasing every year and said, “Export has increased by 127 percent in TRY in the first 4 months of this year. The share of Turkish Lira in this period reached 9.6 percent, a record figure”
Chairman of Turkish Exporters’ Assembly (TİM) Mr. Mehmet Büyükekşi stated that the use of Turkish Lira in foreign trade was increasing every year. He indicated that the share of TL in foreign trade increased from around 1% to 6.5% in the last 10 years and said, “In the same period the share of TL in our foreign trade was even below 2%, and it increased to 5.5% in 2016. This increasing trend we caught in the last period continues the same in 2017as well. Our export has increased by 127% in TL in the first 4 months. Thus, the share of TL in our foreign trade reached a record value of 9.6%”.
Mr. Büyükekşi explained that TİM employed 3.1 million population and represented 67,000 exporters. He said, “TİM is working to further increase the use of TL in our foreign trade. The increased use of TL in foreign trade enables increase in prestige and trading size of TL, and prevents the companies from the negative effects of the changes in exchange rates and makes it easier to finance the current deficit. In this scope we keep emphasizing that the companies should export on TL as a method protect themselves from the foreign trade risk in export”.
The top contribution from jewelry
Mr. Büyükekşi stated that the top contribution to export in TL was coming from the jewelry sector in 2017. He said, “The major part of the increase in TL exports was realized by the jewelry sector, alone. Besides we also see increases in TL exports in grain, textile, apparel and automotive sectors. If we review the issue on country basis, in the same period, our exporters realized TL exports to 179 countries. Iraq and United Arab Emirates were the countries with the most increase in TL exports. We also see increase in TL exports to Russia, China and Israel. We believe that the increasing trend in the last 10 years will further continue in 2017 and exceed 10% by the end of 2017,which will be another record figure. Thus, we will take one more steps towards our objective of making TL one of the most used currencies in foreign trade”.