Exports hit all-time high for January

Turkey's exports hit an all-time high for January with a 17 percent annual jump to $17.6 billion according to initial data, Trade Minister Mehmet Muş said on Feb. 2. 

Imports spiked to $28 billion - up 55 percent - last month due to the unexpectedly harsh winter conditions and rising energy prices, the minister said at a news conference in Ankara.
Energy imports amounted to $9 billion in January, Muş said, adding that the export-import coverage ratio, without energy, stood at 88.3 percent.
Turkey's trade deficit jumped 240.7 percent year on year in January to $10.44 billion, mainly due to energy imports that nearly quadrupled compared to a year ago.

"Our route in the economy is clear: Investment, production, employment and exports," the minister said.
"The success we have achieved in exports has also been an indication that we are taking firm steps forward in our route."
President Recep Tayyip Erdoğan said yesterday a target of $300 billion of annual exports was not unrealistic.
"We will now use all our strength, time and energy to grow our country with investment, employment, production, export and current surplus," he said.
The rise in exports was driven by a 54.9 percent jump in steel exports ($1.6 billion), while chemical products exports ($2.1 billion) rose 30.1 percent and automotive exports ($2.2 billion) increased 1.2 percent.
Germany, the United Kingdom, the United States and Italy were the top markets for Turkish exports with around $1 billion each, according to figures released by the Turkish Exporters' Assembly (TİM).
The share of exports to the European Union countries was 41.6 percent in January, while exports to the 27-member bloc increased 14 percent to $7.3 billion.

When included the non-EU...