EIB Achieves Exports Worth $1.619 Billion in October
In October, the Aegean Exporters' Associations (EİB) recorded an export value of 1 billion 619 million dollars. EİB successfully increased its exports from 1 billion 466 million dollars in October 2023 by 10%. Turkey's overall exports rose from 22.8 billion dollars to 23.6 billion dollars, marking a 3.6% increase in October. The export level of 1 billion 619 million dollars by EİB in October was recorded as a monthly record for the past 10 months of 2024. Within this 10-month period of 2024, EİB logged an export value of 15 billion 233 million dollars with a 1% increase.
Nine of the twelve exporter unions under EİB managed to increase their exports compared to October 2023, while three unions fell behind in their performance. Among these twelve unions, six surpassed the 100 million dollar export barrier.
In October, EİB increased its industrial product exports by 4%, reaching 786 million dollars from 756 million dollars, while the agricultural sector exports rose by 14%, progressing from 627 million dollars to 716 million dollars. Aegean miners continued their successful performance in 2024, achieving a 41% increase in exports, raising their earnings from 82.8 million dollars to 116.6 million dollars.
The Iron and Non-Ferrous Metals Exporters' Union, which has been the export champion under EİB for many years, increased its exports by 3% in October, reaching 184 million dollars from 179 million dollars, thus maintaining its top position.
The Olive and Olive Oil Exporters' Union entered the 2024/25 season with a harvest of 475,000 tons of olive oil and 750,000 tons of table olives, increasing its exports by 51% in October, from 30 million dollars to 45.3 million dollars. This performance made EZZİB the export growth champion in October under EİB and signaled new record exports in the coming months.
The leading sector in food exports was seafood and animal products. The Aegean Fisheries and Animal Products Exporters' Union raised its exports by 21%, moving from 128.7 million dollars to 156.4 million dollars and maintained its peak partnership within EİB.
Dry fruit exporters intensified their activities. The Aegean Dried Fruits and Products Exporters' Union, exporting healthy snacks recognized by the World Health Organization, witnessed a busy period in exports with the onset of the 2024/25 season for seedless raisins, dried apricots, and dried figs. In October, EKMİB increased its exports from 122 million dollars to 144 million dollars.
The fresh fruit and vegetable exporters recorded 129 million dollars in exports. The Aegean Fresh Fruit and Vegetable Exporters' Union, which started the satsuma mandarin export season in October, increased its exports from 127 million dollars in October 2023 to 129 million dollars in October 2024, marking a 2% increase.
Miners exceeded their total exports from 2023 in just 10 months of 2024. The Aegean Mining Exporters' Union (EMİB) added another record in October, boosting its exports from 82.8 million dollars to 116.5 million dollars, marking a 41% increase. Over the past 10 months, it increased its exports by 23%, raising them from 886 million dollars to 1 billion 91 million dollars, surpassing the 1 billion 65 million dollars it exported throughout 2023.
Aegean apparel exporters have been increasing their exports for four months. Following a period when labor-intensive sectors faced challenges due to the rise in foreign exchange rates lagging behind inflation, the ready-to-wear and apparel sector managed to increase its exports by 5.5% in October, while the Aegean Ready-to-Wear and Apparel Exporters' Union (EHKİB) continued to boost its exports for four consecutive months. In October, EHKİB raised its exports from 94 million dollars to 112 million dollars, marking a 19% growth.
Tobacco and tobacco products are nearing the 1 billion dollar mark. The Aegean Tobacco Exporters' Union increased its exports by 21% in October, moving from 72.8 million dollars to 88.3 million dollars. With a 5% increase, its 10-month export value rose from 746 million dollars to 784 million dollars, bringing it closer to the 1 billion dollar export target.
Exports of furniture, paper, and forest products increased by 17%. The Aegean Furniture, Paper, and Forest Products Exporters' Union recorded an export of 79 million dollars after a 17% increase. The Aegean Cereals, Pulses, Oily Seeds, and Products Exporters' Union closed October with an export of 70.2 million dollars, while the Aegean Textile and Raw Materials Exporters' Union achieved 46.1 million dollars, and the Aegean Leather and Leather Products Exporters' Union reached 12 million dollars.
Chemical exports increased by 15%. Among sectors without an established union within EİB, the chemical sector raised its exports from 134 million dollars to 154.4 million dollars, reflecting a 15% increase. This was followed by the automotive sub-industry with 90 million dollars, the electrical-electronics sector with 61 million dollars, the machinery sector with 47 million dollars, and the air conditioning sector with 45 million dollars.
Germany maintained its top position. In October, the highest exports from EİB were to Germany, amounting to 151.6 million dollars, keeping Germany in the lead. The United States followed with 129.3 million dollars, while Italy came in third with a demand for Turkish goods worth 106.7 million dollars. They were followed by Spain with 105 million dollars, the UK with 86 million dollars, the Netherlands with 66 million dollars, France with 64 million dollars, Russia with 60 million dollars, Belgium with 48 million dollars, and Iraq with 40.8 million dollars.
The Aegean Region's exports reached 2 billion 816 million dollars. In October 2024, the Aegean Region achieved an 8% increase in exports, rising from 2 billion 601 million dollars to 2 billion 816 million dollars. İzmir continued to dominate the region's exports with 1 billion 488 million dollars, while the two free zones in the Aegean Region contributed 288 million 80 thousand dollars to İzmir's exports. Manisa increased its exports from 515 million dollars to 522 million dollars, while Denizli's exports grew by 16%, climbing from 334 million dollars to 386 million dollars.
Aydın, the capital of dried figs, successfully exported 111.4 million dollars in October, while Muğla, Turkey's leader in seafood exports, brought in 104.5 million dollars in foreign currency. Balıkesir followed with an export of 102.4 million dollars. Kütahya, the porcelain export champion, achieved 38.3 million dollars in exports, while Afyonkarahisar stood out in natural stone exports with 33.5 million dollars, and Uşak, dominated by the blanket and carpet sectors, contributed 30 million dollars to Turkey's foreign currency intake.
Eskinazi: “Exporters support the Medium Term Program.” Jak Eskinazi, the Coordinator President of EİB, emphasized the necessity of achieving export targets for the success of Turkey's medium-term stability program. He noted that Turkey's export performance in October supported this program. Stating that "we could have presented a more successful picture in exports," Eskinazi added, "Turkish exporters achieved a successful outcome in exports during a period of recession in global markets. As members of EİB, we exceeded the Turkish average. Decisions on interest rate cuts to be made in the United States, the European Union, and our country in 2025 will positively contribute to Turkish exporters' access to financing. We believe that a more favorable climate will emerge for our exporters worldwide in the second half of 2025. We will work tirelessly to achieve the export target of 279.6 billion dollars set for 2025 in the Medium Term Program. We must keep the ships afloat.”