ECONOMY

Turkey's machinery exports reach $9.4B in 8 months

TURKEYS MACHINERY EXPORTS REACH $9.4B IN 8 MONTHS

Turkey's machinery exports rose by 6.8 percent to $9.4 billion in the first eight months of the current year compared with the same period last year.

While Turkey reached its all-time highest exports for August, the share of the machinery sector in total exports was almost 10 percent, the Machinery Exporters' Association (MAIB) said on Friday.

"Almost all product groups' exports increased during this period, and the increase in turbine, turbojet and hydraulic cylinder exports surged 60 percent," the association said in a statement.

The greatest demand for Turkish machines came from Germany and the United States. Total machine exports to these two countries exceed $2 billion.

Adnan Dalgakiran, the association's executive board chairman, said: "We see that the global political tension due to the increase of geopolitical risks has directly affected the demand for investment goods worldwide. We were able to increase our exports in this critical period that shows confidence in Turkish machines."

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