July exports see 2009 peak, up 9.6 pct over previous month

According to figures released by the Turkish Exporters Assembly (TİM) on August 1st, Turkish exports declined 27.1 percent in july compared to the same period last year.  The figures, nonetheless, represent an increase of 9.6 percent over the dollar volume of exports for the month of June.

This is a classic “good news/bad news” announcement: for the third month in a row, the pace of exports has improved, ubt for the year, exports are down a whopping 27 percent.  There is mounting evidence that Turkey’s recession is bottoming out, but recovery in the exports sector will take additional time.

Source: Today’s Zaman


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