Germany's exports to Turkey fell in August, reflecting a sharp decline in purchasing power and domestic demand in Turkey after the pound's collapse, data from the Federal Statistics Office of Germany showed Wednesday.
Exports to Turkey fell 27 percent from August 2017 to 1.3 billion euros ($ 1.50 billion).
This comes in contrast to a 4 per cent growth in exports during the seven months preceding the Turkish currency crisis in August.
Turkey ranks 16th among markets for Germany, Reuters reported.
In 2017 German-made products exported to Turkey amounted to € 21.5 billion, accounting for about 2 per cent of Germany's total exports.
The lira has risen gradually since Friday, when Turkey released US priest Andrew Branson, who was at the center of a row between the two NATO allies.
August 10 marked the lira's peak this year, falling by about 18 per cent during trading, while it had lost almost 40 per cent since the beginning of the year.
