Erdoğan sees Turkey export recovery, strong economic growth

Turkish President Recep Tayyip Erdoğan said exports began to recover in June after dipping during the coronavirus outbreak.

Exports expanded by 25 percent in the first three weeks of June compared with May as demand in Europe recovered, Erdoğan said on Sunday, according to Yeni Şafak newspaper.

Turkey’s exports tumbled in May, reflecting the painful impact of the COVID-19 outbreak on a key driver of the economy. Exports slid by an annual 41 percent to $9.96 billion, according to preliminary official data. Imports also declined, falling 28 percent to $13.4 billion.

Turkey’s economy is getting back on track and growth is expected to be strong in the final two quarters of the year, Erdoğan said, Yeni Şafak reported.

The government is looking to export more goods to the European Union after governments re-opened their economies. Turkey needs to sell more goods abroad to dispel investor concerns about the re-emergence of a trade deficit that has pressured the value of the lira.

The lira was little changed at 6.85 per dollar on Monday morning. It fell to a record low of 7.269 per dollar in early May.