"Turkish exports are looking up, according to the latest data. That’s heartening news for a country that has boomed in recent years on the back of domestic consumption but which might not be able to do so in the near future. But some disconcerting subtrends lurk underneath the good overall figures, notably a striking slump in sales to the Middle East.
First comes the top line. According to the Turkish exporters association, September exports jumped up to $12.5bn, a big rise on the same month a year before.
Finance minister Memet Simsek, who also hailed a jump in PMI figures deep into positive territory, tweeted:
Yet another good news! Exports were up 11% year-on-year in September, implying an improvement in external balance & strengthening economy"
— Mehmet Simsek (@memetsimsek) October 1, 2013
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