Minister Muş Announced Foreign Trade Figures for April

Minister Mus Announced Foreign Trade Figures for April
Minister Muş Announced Foreign Trade Figures for April

Minister of Trade Mehmet Muş stated that exports reached 24,6 billion dollars in April with an increase of 23,4 percent compared to the same month of the previous year, "This figure is the highest monthly export figure of all time." said.

Minister Muş announced the foreign trade figures for April at the press conference he held with the President of the Turkish Exporters Assembly (TİM) İsmail Gülle at the Conference Hall of the Ministry of Commerce.

Emphasizing that despite the recent negative developments in the global economy, Turkey continued its strong performance in the first four months of 2021 after its great success in exports in 2022, Muş said:

“In April we left behind, our exports increased by 24,6 percent compared to the same month of the previous year and reached 23,4 billion dollars. This figure is the highest monthly export figure of all time. In the first three months of 2022, we announced the highest monthly figures. Thus, our increase series continued. On the other hand, our export of 29 billion 1 million dollars, which we realized on April 956, is very valuable as it is the highest export made in just one day in the history of the Republic.”
Muş reported that the foreign trade volume increased by 30,1 percent compared to the previous year and reached 52,8 billion dollars in April.

Noting that imports increased by 2021 percent last month compared to the same month of 35, to $29,5 billion, Muş shared the following information:

“The energy item continues to occupy an important place in our imports with a share of 7,7 billion dollars. As a matter of fact, when we look at it excluding energy, the ratio of our exports to imports has exceeded 100 percent. At this point, we see that the increase in imports in the January-April period, especially oil and natural gas, continues to be effective in the global increase in commodity prices. 2022 billion dollars of the 33,2 billion dollars increase in imports in the January-April 20,7 period resulted from the increase in energy imports, especially the increase in natural gas and crude oil imports.

 “We will drive our economic growth even higher”

Minister Muş pointed out that there has been an increase in energy prices all over the world due to the effect of the Russia-Ukraine War, and said that this situation, which also affected Turkey, created an upward pressure on import prices.

Stating that the aforementioned developments are not unique to Turkey, but have affected European countries much more deeply, Muş made the following assessments:

“According to World Bank data, as of March 2022, natural gas prices in Europe increased by 591,9 percent compared to the same month of the previous year. The ongoing war, the increasing tension in this context, and Russia's response to Europe's efforts to permanently reduce its energy dependence on Russia do not reduce the risk of price fluctuations and persistence of high prices in energy commodities. Therefore, I would like to underline once again that the increase in our imports is due to the excessive increase in world energy prices. Despite all these negativities in energy prices, when we evaluate the data, we can say that our country has displayed a very strong export performance compared to the same period of the previous year.”

Noting that he believes that the strong performance will continue in 2022 and that new records will be reached in exports, Muş used the following statements:

“Especially the pandemic period has shown that Turkey is a reliable supplier. It is an important production base with its strong production infrastructure. With our exports for the last 240,1 months, reaching $12 billion, we are taking firm steps forward with our President's target of $2022 billion by the end of 250. Together with you, we will increase our exports, employment and economic growth even higher. We will work harder, we will produce more, and by exporting Turkish products, we will increase foreign exchange inflow, investments and employment and strengthen the Turkish economy even more.”

Stating that they are working to support exporters in all areas they need, Minister of Trade Mehmet Muş said, "We are confident that we will exceed the target of 2022 billion dollars in our service exports in 68, with the momentum provided by the new supports that have entered into force." said.

Minister Muş announced the foreign trade figures for April at the press conference he held with the President of the Turkish Exporters Assembly (TİM) İsmail Gülle at the Conference Hall of the Ministry of Commerce.

Pointing out that the ongoing war between Russia and Ukraine is expected to slow down global growth in 2022, Muş said that inflationary pressures intensified due to the sudden increases in energy, metals and agricultural commodity prices.
Noting that the world economy, which was tested by the Kovid-19 epidemic, was faced with a period when regional and global risks increased tremendously due to the Russia-Ukraine War, and uncertainties tended towards negative scenarios, he said, "Russia and Ukraine's food, energy, certain The fact that they are the main suppliers of basic goods such as metals and fertilizers has led to serious increases in commodity prices, which are already on the rise. Commodity prices, which increased with the war, continue to fuel inflation all over the world. he said.

In line with these developments, Muş said that inflation reached its peak in the last 40 years in the USA and in the last 25 years in the Euro Zone, and that some negative forecasts regarding world trade as well as growth attracted attention.

Muş said that the World Trade Organization (WTO) revised its commodity trade volume forecast for 2022 downwards by 1,7 points to 3 percent, while the European Union (EU), Turkey's most important trade partner, lowered its import forecast from 6,8 percent. It dropped to 3,7 percent.

“Economic indicators show that the growth performance continues”

Muş stated that the acceleration in exports was reflected to the entire industry and made the following assessment:

“We see an annual increase of 13,3 percent in the industrial production index in February. Our real sector confidence index increased by 1,2 points compared to the previous month and reached 109,7 in April. These indicators show that the record 2021 percent growth performance we achieved in 11 continues. In such an environment, it is extremely meaningful that our country continues its production without slowing down and the acceleration it has achieved in exports.”

Expressing that the government is working hard to support exporters in all areas they need, Muş said that while determining export-related policies, it is not possible to consider service exports separately from goods exports, and that service exports, which were 2002 billion dollars in 14, reached 2021 billion dollars in 58.

Stating that as the Ministry, they have taken concrete actions for all the demands of service exporters and that they have strengthened the exporters' power with their support packages, Muş said:

“We are confident that we will exceed the target of 2022 billion dollars in service exports in 68, with the momentum provided by the new supports that have entered into force. The new supports we offer for our exporters are not limited to these. As you know, the upper limit of credit in the 22 billion lira loan package allocated for our exporting SMEs within the scope of Export Development Inc. has been increased from 10 million lira to 15 million lira.”

 “Exports will be the main element of our economic growth”

Pointing out that they also carry out commercial diplomacy activities in addition to their support programs, Muş said: kazanWe are increasing our numbers day by day. In this framework, after Bulgaria, Hungary and Slovakia, the document problem was finally resolved with Romania. I believe that we will permanently end our road transit problems with our European counterparts in the near future.” said.

Stating that they created new strategies to increase Turkey's weight in different markets by diversifying trade, Muş reminded that they signed a preferential trade agreement with Uzbekistan at the end of March.

Stating that they maintain their contacts with the Gulf countries within the scope of developing trade and investment relations with the United Arab Emirates (UAE) and Saudi Arabia, Muş said, "We continue our commercial diplomacy activities all over the world without stopping, and we strive to solve the problems our exporters are experiencing." used the phrase.

Emphasizing that they trust Turkey's entrepreneurs, workers, the dynamism of the business world, and their ability to adapt to changing and difficult conditions, Muş concluded his words as follows:

“The regional and global challenges facing the world result in the further spread of the concept of trade with trusted countries. In such a period, Turkey will prove to the whole world that it is a reliable production and supply center and will be at the center of all developments in line with our national interests, with the cooperation of the state and private sector. As the Ministry of Commerce, we will continue to stand by you with all our means and in the strongest way possible to move our country among the leading countries in value-added exports. I am sure that with your efforts, exports will be the main factor of our economic growth in 2022, as it was in the previous year. In this sense, I believe that we will continue the breakthrough we have shown in our industry in recent years, and that we will make the current growth environment in which exports and investments are the driving force sustainable.”

For the April data bulletin Click here

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