Turkey enjoyed a 29.9 percent increase in its exports in the eighth month of the year compared to the same period of 2010, inching closer to its year-end target of $127 billion for 2011, reported Todays Zaman. According to Turkish Exporters Union, (TIM) Turkey is likely to reach is export goal for the year. In the month of August Turkish exports reached $11.07 billion.

In the recent years Turkey has taped in to other markets, to not be depended on the Western Markets. Instead exporting to other developed nations, developing, and underdeveloped countries. The exception to this is Germany. 30 percent more goods were exported to Germany from Turkey than last year. Exports to Iraq in the month of August also had 25 percent of increase than last year. The increase in Morocco on the other hand was enormous 122 percent export increase was recorded.

$9.3 billon of the exports was industrial products. The ready-wear-sector, chemicals, automobile and steel industries only make up $5.9 billon of the 9.3 billon industrial products that were exported in the month of August. Agriculture was the second largest contributor to the exports in the month of August grossing $1.42 billon.

According to TIM President Buyukeksi, recent measures take from the central bank has helped the exporting of goods. Buyukeksi said central bank measures have helped minimize the negative impact of an overvalued Turkish lira on the country's exports. Exporters have long been demanding a measure against an ever-appreciating lira, suggesting that profit margins are too narrow to compete with rivals in international markets. Unions earlier suggested the central bank keep the lira at a favorable level; they demanded TL 1.60 to be the base limit for $1. One US dollar currently buys TL 1.73 in markets. Buyukeksi said the cooling markets will help exports pick up further in the following months. Reported Todays Zaman.