Turkey’s exports hit record $15.1bn in March

Turkey’s exports reached a record $15.1bn in March, Economy Minister Nihat Zeybekci said yesterday during a televised interview on private broadcaster CNNTurk.“We reached the highest number in our history in exports, $15.1bn,” Zeybekci said.The Turkish Exporters’ Assembly (TIM) also said in a statement yesterday that the country’s exports rose 11.5% year-on-year in March to exceed $15bn for the first time.It said exports in the last 12 months had risen 10.5% to around $160bn.Data from Turkey’s official statistics institute on Friday showed exports stood at $13.18bn in February.They also showed Turkey’s trade deficit had widened 54.2% year-on-year to $5.76bn.TIM President Mehmet Buyukeksi said the assembly was aiming for exports to exceed $170bn at the end of the year.Zeybekci also said he expected tourism revenues to reach $51-$52bn in 2018 from around $26bn in 2017.Tourism, a major source of funding to plug Turkey’s persistent current account deficit, is recovering from a sharp downturn.Foreign arrivals surged over 27% in 2017 to 32.4mn, largely boosted by Russian tourists after Turkey patched up a rift with Moscow, concerns over security eased and the sector offered discounts to attract customers.