Currency / Language


NEWS Turkey aims for $377 billion in exports and foreign exchange revenue

27 May 2024

Minister Bolat has made a statement saying, "This year, as Turkey, we aim for $267 billion in goods and $110 billion in service exports, totalling $377 billion in exports and foreign exchange revenue."

The 37th General Assembly of DEİK and the 3rd Masters of Respect Award Ceremony took place at the Lütfi Kırdar International Convention and Exhibition Center. President Recep Tayyip Erdoğan also attended the event, where Trade Minister Ömer Bolat made several announcements.

"We Will Strive Together for New Goals"

Highlighting the goal of positioning Turkey among the world's top exporting countries, Bolat said, "Since 1985, DEİK has been one of the leading locomotives of our country's export mission, working diligently with its presidents, members, commissions, and other bodies to pave the way for businesspeople. For 21 years, under the leadership of our esteemed President, we have had a vision and dream of making Turkey one of the top exporting countries globally. We work tirelessly together in both the public and private sectors because exports mean investment, production, employment, and foreign exchange inflows.

This year, as in Turkey, we aim for $267 billion in goods and $110 billion in service exports, totalling $377 billion in exports and foreign exchange revenue. Last year, we achieved $255.5 billion in goods and $101 billion in service exports, totalling $356.5 billion in exports and foreign exchange revenue. We firmly believe that, with God's permission, we will achieve this figure by the end of the year and set new records. The first five-month data of this year has already strengthened our forecasts. We will strive together for new goals. Our leader is strong, determined, and visionary; our entrepreneurs are ambitious, hardworking, productive, and outward-looking; our government is resolute, hardworking, and reformist; and our institutions are experienced."

"Turkey is the 17th Largest Economy in the World"

Bolat mentioned that with $1.118 trillion in production, Turkey is the 17th largest economy in the world. He added, "While global trade saw a 1.2% decline, global exports a 5% decline, and global production a 3.2% stagnation last year, Turkey's economy achieved a 4.5% annual real growth in 2023, marking uninterrupted growth for the last 14 quarters and an annual real growth of 5.4% over the last 21 years, which is a significant achievement. Turkey is now the 17th largest economy globally, with $1.118 trillion in production. Based on purchasing power parity, it is the 11th largest economy. Comparing the first four months of 2024 with the same period in 2023, we see that Turkey's goods exports increased by 2.7% to $82.9 billion. We hope to share more record-breaking news by the end of May."

"We Doubled Our Service Export Support for 2024"

Bolat stated that service export support for 2024 has doubled, saying, "On the other hand, Turkish contracting firms are with our exporters at every stage, from marketing to establishing overseas distribution channels to global brand transformation. In 2023, we increased our goods and services export support from TL 11.7 billion to TL 21.5 billion in 2024. Through IGE A.Ş., we provided over TL 76.7 billion in credit guarantees to more than 12,000 exporters. In 2023, Turkish Eximbank provided a total of $42 billion in support to our exporters. As a country that plays a significant role in the global economy, we are working tirelessly to be influential worldwide in bilateral, multilateral, and regional relations. By expanding our overseas organization, which is one of the most important elements of commercial diplomacy, we have assigned Trade Counselors in 119 countries. Our Ministry of Trade, TOBB and Chambers, DEİK and the Business Councils Family, TİM and the Exporters' Associations Family, and our NGOs all together form a strong Turkish National Team."

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