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Turkey’s exports rise for the first time in 14 months

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Turkey’s exports have increased slightly in February compared with the same period last year.

Exports totaled $10.8 billion last month, with an increase of 3.1 percent year-on-year, while it reached $20.4 billion in the first two months of 2016, which is a decline of 16.9 percent compared with the same period last year.

Turkey’s exports were affected negatively by dramatic fluctuations in euro-dollar parity.

“The negative effect of the euro-dollar parity was around $128 million over exports in January,” said the Exporters’ Assembly of Turkey.

Noting that the increase had boosted the morale of exporters, TIM Chairman Mehmet Büyükekşi stated that with export subsidies, they believe that Turkey would achieve its five percent growth goal for 2017.

He said that despite the 11 percent setback in global trade in 2015, Turkey has achieved a 3.4 percent growth rate in the third quarter of the year.