Economy of the Arab League

Fruit production expected to increase 4 pct this year

Türkiye's Fruits, beverage and spices crops are expected to increase by 3.8 percent from the previous year to reach 25.8 million tons in 2022, according to this year's second estimate the Turkish Statistical Institute (TÜİK) released on Oct. 28.

The increases in apple, grapes, peaches and nectarine will be around 5.2 percent, 13.5 percent and 12.5 percent, respectively, TÜİK said.

Türkiye’s foreign trade in local currency rising

Foreign trade transactions made in Turkish Liras have been on the rise, reaching 34.2 billion liras in August, data from the Trade Ministry show.

Last month, exports in local currency grew 109 percent on an annual basis to 10.4 billion liras, while imports climbed from only 8.2 billion liras in August 2021 to 23.8 billion liras.

Agricultural input prices rose 8 percent in July

The agricultural input price index increased by 7.9 percent in July from the previous month, the Turkish Statistical Institute (TÜİK) said on Aug. 22.

On the back of the July data, the annual increase in the cost of inputs used in the agriculture industry accelerated from 123.7 percent in June to 135 percent last month.

Top 500 IT firms’ revenues hit 214 billion liras

Combined revenues of Türkiye's largest 500 IT companies climbed to 214 billion Turkish liras in 2021, growing 26 percent from the previous year, according to a recent survey.

Revenues from software exports rose by 74 percent last year to 1.6 billion liras, while the industry's service export revenues grew around 53 percent to hit 1.5 billion liras, showed the IT 500 Survey.

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