Turkish exports in local currency on the rise: TurkStat

Lira's share up 113 pct in Jan-May, Turkish Statistical Institute says

Turkish exports in local currency on the rise: TurkStat

World Bulletin / News Desk

Turkey's exports in local currency terms increased by 113 percent between January and May compared to the same period in 2016, according to an official report released on Friday.

Turkish Statistical Institute (TurkStat) revealed that in the first five months of the year, the country's exports reached $64.3 billion, of which $6.13 billion was in Turkish lira terms.

The share of Turkish lira in the country's total exports increased to 9.54 percent from 4.9 percent or $2.87 billion, compared to the same period last year, TurkStat said.

The rise followed calls by President Recep Tayyip Erdogan and other officials during the past year to support Turkish lira against foreign currencies.

The U.S. dollar/Turkish lira exchange rate was 3.02 on average last year while one dollar was traded for 2.71 liras in 2015.

The lira witnessed harsh foreign exchange rate fluctuations after last year's failed coup attempt on July 15. Dollar/lira rate, which was at 3.52 at Thursday's close, saw a historic hike -- around 3.94 liras -- in mid-January.

Güncelleme Tarihi: 30 Haziran 2017, 16:32