Testimonials

We rated RW Freight excellent

Netherlands Freight Exporter
93450

Everything went smoothly

Norway Groupage Exporter
46425

I found RW Freight to be very helpful handling our Export to Poland. Very good price and the job was quickly organised and collected. No problems in getting prompt shipping information.

Poland Export Freight
72772

More Testimonials

air freight Australia Brexit Canada cargo China container containers Covid-19 Denmark exporters exports exports China Finland France freight freight forwarders freight forwarding Freight Shipping Germany Gothenburg Hong Kong imports India Ireland italy Japan logisitics logistics Netherlands Norway Poland rail freight russia Seafreight shipping South Africa Spain Sweden Sweden freight Swedish Switzerland Turkey USA wine

Turkey Exports affected by currency

Tags: ,


The dramatic rise in the U.S. dollar against other currencies has had a huge negative effect over the Turkey’s exports. Under normal conditions, the loss of the Turkish Lira’s value against the dollar would be expected to be good for Turkey’s exports, but it is not. As Turkey mainly makes its imports on a dollar basis and its exports on a euro basis (to its largest market, the European Union), the plummeting value of the euro against the dollar has hit Turkey’s exports.

Turkey’s manufacturing activities are mainly based on imported raw materials and semi-products, which are bought on the more expensive dollar, but are sold on the cheaper euro abroad.

According to data from the Turkish Statistics Institute, Turkey conducted around $157.6 billion in exports in 2014. But according to temporary data from the Customs and Trade Ministry, the country’s exports fell 8.5 percent to $143.9 billion in 2015.

Elitaş said the continuing plunge in oil and other commodity prices also negatively affected Turkey’s exports in 2015.