Export demand in October is above the long-term standard.

TURKISH EXPORTERS ASSEMBLY (TIM) announced the results of the Export Market Monitor for October 2023. This report, which evaluates demand trends through various market conditions and global economic dynamics, sheds light on the overall health of Turkish exports.

According to the report, the Export Demand Index recorded an increase of 0.9% in October compared to the previous month, reaching a level of 100.4. This level reflects a performance above the long-term average and highlights the positive developments in the export market.

Compared to October of the previous year, it is observed that this index shows a decrease of 0.7%. However, the fact that the current figures remain above long-term averages indicates that the increase in demand in international markets is ongoing.

The conditions shaping demand for particularly important markets in the global economic environment are among the main factors affecting exporters' strategies. In this context, the demand trends tracked through macroeconomic indicators and leading indicators provide firms with a competitive advantage.

In light of these findings, Turkish exporters continue to carefully evaluate market conditions and focus on enhancing their pursuits in global supply chains. Analyzing both current and potential new markets plays a critical role in shaping future growth strategies.

The latest data from TIM provides positive signals for the increase in Turkey's export capacity and its ability to achieve a competitive advantage in global markets. It is of great importance for exporters to reshape their strategies by considering global demand trends as the end of 2023 approaches.