KSO Chairman of the Board: The increasing trend in exports continued in 2022

Kocaeli Chamber of Industry (KSO) Chairman of the Board of Directors Ayhan Zeytinoglu stated that the increasing trend in exports, which was caught in 2021, continues in 2022, and stated that they hope to see higher levels with the increase in demand in target markets this year.

In his written statement, Zeytinoglu evaluated the temporary foreign trade statistics announced by the Ministry of Commerce.

Stating that exports were realized as $22 billion 915 million in December and the increase in exports was 3.1% compared to the same month of the previous year, Zeytinoglu said, “We see that this export figure is the highest value in December.”

“We hope to see higher levels in our exports in 2023”

KSO President Zeytinoglu continued as follows:

“The increasing trend in exports in 2021 continued in 2022 as well. In 2022, we achieved record levels in exports exceeding $20 billion per month, and we completed the year with $254 billion 210 million of exports. Compared to 2021, the rate of increase in exports was 12.9%. While the increase in container and transportation costs in the countries we compete with this year gave our country an advantage, the recent opening of the export from the Far East and the decrease in container prices caused a slowdown in the rate of increase in exports in the last months of the year. We hope to see higher levels in our exports in 2023 with the increase in demand in our target markets, especially in Europe.”

Pointing out the importance of the competitive exchange rate, Zeytinoglu noted that this exchange rate will not only support exports, but will also be an important factor in reducing imports.

Reminding the import figures, Zeytinoglu said, “While we find the increases in production and investment positive, we think that more attention should be paid to the imports of consumption goods in terms of reducing the foreign trade deficit.”

Noting that the rate of increase in imports was higher than that of exports in 2022, with the effect of the increase in energy prices, Zeytinoglu stated that there was an increase of 138.4% in the foreign trade deficit, which could be reflected in the current account deficit.

Source: AA / Translated by Irem Yildiz

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