Slowdown in Import Uploads Due to Exchange Rate Increase

The fluctuations in the exchange rate also affect the logistics sector. UTIKAD Chairman Emre Eldener said. The addition of freight charges to the import customs declaration by multiplying the exchange rate with the exchange rate of the central bank has increased the tax base and hence the tax amounts paid ğ.

UT As a result of the low profit margins in international transports, the serious exchange rate increases we have encountered in the last two months have left both the maturity and the logistic companies that paid the bills with TL bills, ciddi says UTIKAD President Emre Eldener. situation, we see that companies are trying to produce a solution by negotiating with their customers. Both logistics companies and importers will implement different applications such as foreign exchange forward in the next period in order to eliminate potential foreign exchange risks. Sok

Underlining that the importers do not withdraw goods from the warehouses due to the increase in exchange rates, Eldener said, “The import declaration started to be registered after the exchange rates decreased slightly. Unfortunately, export freights have increased in European road export loads. The reason for this is that the vehicles going to Europe have a hard time finding an import load. "The fluctuations in the currency and the fact that many production facilities in Europe were on holiday in August caused some disruptions in import shipments," he said.

UTIKAD President Eldener said that the biggest problem experienced due to the increase in the exchange rate was the failure to meet the targeted costs and the losses caused by the exchange rate. Un Product prices increased significantly due to the increase in the exchange rate of the products on the market. There have been reports in the media that some firms have canceled their orders with the concern that the exchange rate fluctuations will continue. In addition, companies that regularly import imports have partially suspended their import shipments, are waiting for the market to settle and are trying to sell their stocks first. For this reason, air, sea and highway import shipments in August, there was a serious slowdown, Bu he said.