While a total of 254 billion dollars of exports were realized throughout Turkey in 2023 through 120 thousand exporting companies, 194 companies in the Aegean Free Zone brought 2.8 billion dollars to the country from foreign sales.
Aegean Free Zone (ESB) increased its high-rate growth momentum, which it has maintained for 4 years, above expectations in 2023. Last year, the total trade volume from the Aegean Free Zone increased by approximately 10 percent compared to the previous year, reaching over 5.8 billion dollars. International sales from the Aegean Free Zone increased by 13.48 percent, reaching over 2.8 billion dollars. While sales from abroad to the region remained at the level of 1.5 billion dollars with an increase of only 1.78 percent, the ratio of exports to imports in the Aegean Free Zone in 2023 was approximately 180 percent.
Evaluating the performance of the region in 2023, ESBAŞ Executive Board Chairman Dr. Faruk Güler emphasized that the approximately 10 percent increase in trade volume was above expectations.
Dr. pointed out that the companies operating in the Aegean Free Zone export above the Türkiye average. Faruk Güler said, “In 2023, a total of 120 thousand exporting companies across Turkey exported 254 billion dollars. This represents an average of 2.1 million dollars per exporter company. There are 194 companies in the Aegean Free Zone and 2.8 billion dollars of exports were made from the region. When the average is taken, the company “Exports per capita amount to 14.6 million dollars. This corresponds to 7 times the Turkish average,” he said.
The region’s exports are 6 times more valuable on a unit value basis
Pointing out that high added value products are produced and exported in the Aegean Free Zone, Dr. Faruk Güler said, “Our region is an industrial center where products with the highest added value are produced, with an export of 9 kg/dollar on a unit value basis. Considering that the average unit value of Turkey’s exports in 2023 is 1.57 kg/dollar, it is 6 times higher than Turkey’s exports from our region in terms of unit value.” “We see that exports are made at a higher value. The exports of our companies are more than twice as high as Germany’s exports, which are at the level of 4 kg/dollar,” he said.
“Despite the stagnation in global trade, ESB has been growing in double digits for 3 years”
Pointing out that last year the global trade volume grew at a very low rate of 2.4 percent and some economies, especially Germany, Turkey’s most important foreign trade partner, entered a recession. Faruk Güler said: “Most of Western Europe is in recession. The world economy left 2023 behind as a year of supply chain problems, a slower-than-expected recovery in China, high inflation and central banks increasing interest rates rapidly to suppress inflation. Due to the lackluster movement in global trade, the increase in our country’s exports was limited to 6 per thousand in 2023. The current account deficit problem in foreign trade continues. When we look from this perspective, the total trade volume of the Aegean Free Zone increased by 10 percent and its exports by 13.48 percent, while the increase in imports was limited to 1.78 percent. “It is extremely important that the exports and imports covered by the companies in our region are approximately 180 percent. The Aegean Free Zone has been making a great contribution to our country’s economy by providing such a high foreign trade surplus for years.”
Dr. Faruk Güler stated that in addition to contributing to the improvement of Turkey’s foreign trade balance with the foreign exchange income provided by the companies in the Aegean Free Zone, it also supports the reduction of unemployment, which is another important problem of the economy, and said: “Following the Covid-19 pandemic, the war in Ukraine, inflation, The slowdown in global trade, which started in 2020 with monetary tightening and widespread debt problems, has continued for three years. Despite this, the Aegean Free Zone was able to increase its trade volume by 21.56 percent in 2021, 13.49 percent in 2022 and 10 percent in 2023. The export increase in the last 3 years was in double digits such as 16 percent, 10 percent and 13.48 percent. As the figures show, our region has managed to differentiate itself positively from the bad course of the global economy in the last 3 years. These developments also increase the employment of companies here. “In 2023, employment in the region increased by approximately one thousand people, reaching 25 thousand people at the end of the year,” he said.
The opinions expressed herein are the author’s and not necessarily those of News2Sea.
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