Turkey’s May exports down nearly 20 pct due to major strikes

A 19 percent drop in Turkish exports was primarily due to major strikes that took place at several large automotive factories, resulting in temporary halts in production, according to an announcement from the Turkish Exporters Assembly (TiM) on Monday.
Total exports slipped to $10.8 billion for the month, while automotive exports receded by a 27.4 percent margin, down to $1.48 billion in May. TiM said the industry sustained more than $500 million dollars in export and production losses.
The countryand’s top five export partners in May were Germany, the UK, Iraq, Italy and the United States however, exports to all of those countries dropped between 15 and 38 percent last month. The top five exporting provinces in May were Istanbul, Kocaeli, Bursa, izmir and Ankara, although exports from these provinces were down between 16 and 29 percent compared to May 2014.
On the other hand, exports rose significantly to a number of Asian countries, including South Korea, Singapore, Taiwan and Malaysia. While the automotive industry performed poorly regarding exports last month, due to the strikes, the jewelry and hazelnut industries enjoyed significant increases in their export figures.

SOURCE: Today’s Zaman