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.
PM Mitsotakis at official Hellinikon opening: “The Project will add 70,000 new jobs” (video)
The investment is estimated to add 2.4% to the GDP
Automotive production down 13 percent in August
Local carmakers' production declined by 13.3 percent on an annual basis to some 93,000 units in August, according to data from the Automotive Manufacturers' Association (OSD).
Passenger car output, however, rose by 5.1 percent year-on-year last month.
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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.
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Türkiye’s exports up 13.4 percent in July
According to the provisional data, produced with the cooperation of the Turkish Statistical Institute (TÜİK) and the Trade Ministry, Türkiye's exports in July were $18.5 billion with a 13.4 percent increase and imports were $29.2 billion with a 41.4 percent increase compared to July 2021.
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Growth, foreign trade data due this week
Türkiye will release some key data this week, including GDP growth, foreign trade and the economic confidence index.
The Turkish Statistical Institute (TÜİK) will announce the growth figures for the second quarter on Aug. 31. The Turkish economy expanded 7.3 percent in January-March this year.
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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.
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Cereals exports hit $6.3 billion in seven months
Türkiye's cereals exports increased by 31.4 percent in the January-July period from a year ago to stand at $6.26 billion, according to Istanbul Cereals, Pulses, Oil Seeds and Products Exporters' Association (İHBİR).
In July alone, exports grew by 22.4 percent on an annual basis to $181.5 million.
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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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Trade deficit widens to $10.6 billion in July
Türkiye increased its exports by 13.4 percent on an annual basis to $18.6 billion in July, preliminary data from the Trade Ministry showed on Aug. 3.
Imports grew nearly 41 percent to $29.1 billion. Consequently, the country's foreign trade deficit widened by 145 percent year-on-year last month to $10.6 billion.
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