Turkish exports rise by 2.6 percent in March

Turkish exports increased by 2.6 percent year-on-year in the month of March, according to data released by the Turkish Exporters Assembly (TİM) on Friday.

The volume of exports totaled $11.5 billion in March and hit $33.4 billion in the first three months of the year, 9.8 percent lower compared to the same period in 2015.

Exports decreased by 9.2 percent to stand at $140.3 billion year-on-year in the last 12 months, according to TİM.

In the meantime, Turkish manufacturing activity contracted in March for the first time in five months, driven by declines in output and new orders, a survey showed on Friday, suggesting a recovery that began late last year is fizzling out.

The manufacturing Purchasing Managers’ Index (PMI) fell to 49.2 last month from 50.3 in February, survey data from the İstanbul Chamber of Industry (İSO) and Markit showed. Readings above 50.0 indicate expansions in activity.

Following four months of expansion, Turkish manufacturing output shrank in March, and the volume of new business received by Turkish goods producers declined for the first time in five months.

The employment index in the sector was steady, with broadly no change in headcounts since February after six months of job creation.

Manufacturing input prices rose at their slowest rate in three months, while prices charged for Turkish manufactured goods rose at the slowest rate in eight months.