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Wednesday, 10th March 2010 (1940 views)

Turkey exported $1.1 billion (£738 million) worth of gold jewellery to international markets last year, according to new figures.

Statistics from the country's Export Promotion Center show that its biggest customer was the United Arab Emirates, which bought $348.9 million worth of gold jewellery.

The US was the second biggest buyer at $120 million, with other large purchasers including Germany, Iraq and Russia.

Turkey, which exports about 70 per cent of the 300 tonnes of gold jewellery it makes each year, is now one of the top three producers of such products in the world.

Last year, the Turkish ministry of energy and natural resources predicted that the country's gold production will reach record levels in 2010.

It forecast an output of 38 tonnes for this year - compared with 11.1 tonnes in 2008 - as more new gold production centres open across the nation, Today's Zaman reported.

The ministry said it is possible Turkey has potential gold reserves of about 6,500 tonnes.

 

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