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Louth IFA welcomes Minister Creed’s visit to Turkey on live exports


ANKARA: Louth IFA Livestock Chairman Peter McEneaney strongly welcomed the trip by Agriculture Minister Michael Creed to Turkey this week on live exports. He said IFA and Bord Bia visited this market last October and it is clear that there is real potential for increased export, Based on positive discussions we had with the The Turkish Meat and Milk Board ... Read More »

Turkey tax office blast caused by bomb, attacker killed


ANKARA: An explosion at a tax office in the Turkish capital was caused by a bomb — not a gas leak as initially believed, authorities said Friday, adding that the suspected bomber had been killed in a police operation. The Ankara governor’s office said authorities had also detained eight people suspected of links to the alleged bomber, whom it identified ... Read More »

Turkish flat steel imports up 3% in 2017


ANKARA: Turkey’s import volumes of flat steel products increased by 3.14% year on year in 2017, according to data released by the Turkish Statistical Institute (TUIK) on Thursday February 1. Turkey imported 8,390,305 tonnes of flat steel in January-December 2017. This compared with 8,134,707 tonnes in 2016. The reasons for the increase were the competitiveness of import prices and the ... Read More »

Turkey’s exports surge in January


ANKARA: Turkey’s exports rose 16.3 percent on a yearly basis to reach nearly $12.2 billion in January, the Turkish Exporters Assembly (TIM) announced on Thursday. According to TIM, the figure was the third-best January export number of all time. On a quantity basis, Turkish exports also rose 9.8 percent to reach 9.7 million tons during the same period. TIM noted ... Read More »

Exports up over 10% in 2017, reach $157b


ISTANBUL: Turkey’s exports soared by 10.2 percent to $157.05 billion in 2017 compared to the previous year, the national statistical body announced yesterday. According to foreign trade data provided by Turkish Statistical Institute (TurkStat) and the Customs and Trade Ministry, Turkey’s foreign trade volume reached $390.84 billion in 2017, an annual increase of 14.56 percent. Meanwhile, the country’s imports were ... Read More »

Turkey’s exports up over 10% in 2017


ISTANBUL: Turkey’s exports in 2017 amounted to over $157.05 billion, a 10.2 percent rise compared with the previous year, the Turkish Statistical Institute (TurkStat) announced Wednesday. The country’s foreign trade volume reached $390.84 billion in 2017, marking a 14.56 percent annual increase, according to provisional data provided by TurkStat and the Ministry of Customs and Trade. Meanwhile, Turkish imports climbed ... Read More »

Turkey aligns detergents Regulation with EU


ISTANBUL: Turkey has introduced a new detergents Regulation that fully aligns requirements with those of the EU. The Regulation was published in the country’s Official Gazette on 27 January and will become effective on 27 July for most types of detergents on the market. Requirements for those containing phosphate and liquid detergent capsules will enter into force after one year, in January ... Read More »

Foreign visitors spend in Turkey 1.4b lira on retail shopping


ISTANBUL: While foreign visitors to Turkey in 2017 reached a total of 1.4 billion lira in their retail goods purchases including garments, jewelry, carpets and cosmetics, the highest recorded single item spending was on a luxury watch that cost a Kuwaiti tourist TL 574,000 ($153,000), Daily Sabah reports. Evaluating the value added tax (VAT) refund transactions carried out in Turkey (tax free), ... Read More »

Azerbaijan increases gas export to Turkey


ISTANBUL: Azerbaijan supplied almost 5.95 billion cubic meters (bcm) of gas to Turkey in January-November 2017, as compared to 5.89 bcm in the same period of last year, says the report posted on the website of the Energy Market Regulatory Authority (EPDK) of Turkey. In 2016, Azerbaijan supplied 6.48 bcm of natural gas to Turkey, compared to 6.17 bcm in ... Read More »

Turkish customs prevents smuggling worth 2.5b Turkish Liras: Minister


ISTANBUL: Turkish customs officials prevented 2.5 billion Turkish Liras worth of smuggling in 2017, state-run Anadolu Agency reported, citing Customs and Trade Minister Bülent Tüfenkci. “Some 2,500 schools, 3,000 hospitals, 160 drones and 57 Altay military tanks could be built with the amount of smuggling that was prevented [last year],” Tüfenkci said. The items mostly consisted of illegal drugs and ... Read More »

Turkey became the top importer of Russian corn again


ISTANBUL: Russia exported 564.3 KMT of corn in November 2017, or 34.4% less than at the same time in 2016 (859.6 KMT). In the first three months of MY 2017/18, Russian exporters shipped abroad some 1.3 MMT of corn that is down 28.5% year-on-year. The decline in corn exports results from a smaller crop along with Russian farmers’ failure to finish ... Read More »

Police seize tens of thousands of packets of smuggled cigarettes across Turkey


ISTANBUL: The authorities in Turkey have seized tens of thousands of packets of contraband cigarettes in a series of raids across the country from Jan. 20 to Jan. 22. In the most recent operation on Jan. 22, Anti-Smuggling and Organized Crime Department units seized 7,500 packages of smuggled cigarettes during a highway stop in the Central Anatolian province of Kayseri, ... Read More »

Turkey exports spring water to 110 countries


ANKARA: Turkey exports bottled spring water to 110 countries around the world, a senior member of the Packaged Water Manufacturers Association (SUDER) has said. SUDER’s board member Huseyin Karamehmetoglu told Anadolu Agency that the annual volume of water market in Turkey exceeded 11 billion liters, with the financial turnover in the sector hitting 5 billion Turkish liras ($1.31 billion). Karamehmetoglu, ... Read More »

Turkish US trade leaps in Trump’s first year in office


ANKARA: In the first year of U.S. President Donald Trump in office, the trade volume between Turkey and the U.S. increased 16.6 percent in the first 11 months of 2017 compared to the same period the previous year, reaching $18.7 billion despite tensions in security and diplomacy. According to Turkish Statistical Institute (TurkStat) data, Turkey’s exports to the United States ... Read More »

Turkey to grow 4.5 percent in 2018 says business body


ISTANBU: Turkey will grow 4.5 percent and the country’s inflation rate will be 9.8 percent in 2018, Turkish Industry and Business Association’s (TUSIAD) predicted in a report on Thursday. The country’s unemployment rate will be 10.5 percent in the current year, said the economic forecast report released during TUSIAD’s 48th general assembly in Istanbul. It is expected that public spending ... Read More »

Turkey’s natural stone exports up 13 pct in 2017


ANKARA: Turkey’s natural stone exports in 2017 increased by almost 13 percent as it reached $2 billion from $1.8 billion in 2016, according to the Aegean Exporters’ Association. The increase was mainly attributed to China lifting tax and quota restrictions on natural stone imports in the last quarter of 2016, after almost three years. In 2016, natural stone worth $729 ... Read More »

Turkey continues reducing sunseed imports


ANKRA: Turkey, the current marketing year features a bumper sunseed crop of 1.6 MMT. UkrAgroConsult has already addressed the topic of 2017/18 forecasts for this country and its prospective trading relations with Ukraine and Russia. After the first three months of the current season, we’ll assess below to what degree the expectation of a decrease in Turkey’s dependence on imported ... Read More »

Turkey’s budget shows nearly $13B deficit in 2017


ISTANBUL: Turkey’s central government’s budget balance saw a deficit of TL 47.4 billion ($12.9 billion) last year, Finance Minister Naci Ağbal announced yesterday. “We revised up our end-year budget deficit forecast for 2017 to 2 percent of the country’s GDP [gross domestic product] in the last Medium Term Program [MTP],” Minister Ağbal said. Fortunately, last year’s budget balance saw a ... Read More »

Qatar’s investment in Turkey exceeds $19b


ISTANBUL:Qatar’s investment in Turkey has surged over $19bn (about QR70bn), which is expected to increase further in the coming years. Qatari investments in Turkey is the second highest value by any country in Turkey. The invesment is diversified in different sectors of the fast growing Turkish economy such as real estate, banking, food processing industries among others. ‘Qatar’s investments in ... Read More »

Turkey’s growth expected at 6.7%: World Bank


ISTANBUL: The World Bank predicts that the global economy will grow 3.1 percent this year, which would be its best showing in seven years. The United States, the world’s largest economy, is expected to receive a boost from the $1.5 trillion tax cut package Congress approved last month. The World Bank on Tuesday upgraded its global growth forecast for 2018 ... Read More »