Erdogan proudly declared that Türkiye's exports have shattered records set during the Republican era, reaching an impressive $255.809 billion in 2023, marking a 0.6 percent increase compared to the previous year.
Addressing exporters and business leaders at the event, President Erdogan expressed his satisfaction in achieving this significant milestone and surpassing the $255 billion target outlined in the Medium-Term Programme.
Erdogan took the opportunity to discuss the national and global perspectives of international trade. Acknowledging inflation as a pressing issue affecting Turkey and economies worldwide, Erdogan emphasized the importance of addressing high living costs. He stated: "We aim to lower inflation back to single-digit figures without compromising production, employment, and economic growth."
Detailing the measures implemented to curb inflation, Erdogan asserted: "At the end of this process, which protects investment, employment, and production and prioritizes exporters' access to finance, we will, inshallah, stop inflation from being a daily concern for our citizens like before."
Key Highlights of Trade Figures:
- Turkey's exports for 2023 reached $255.809 billion, exceeding the Medium-Term Programme target.
- December 2023 witnessed exports hitting $23 billion, with a 0.44 percent increase.
- The export-import coverage ratio in 2023 rose by 0.8 points to 70.7 percent.
- Turkey's foreign trade deficit narrowed by 3.2 percent.
- The annual services exports reached an all-time high of $99.254 billion as of October 2023.
Positive Outlook for the Future:
Erdogan highlighted that the reduction in foreign trade deficit and current account deficit over the last five months is indicative of a permanent positive trend. He expressed confidence in the continued recovery and expects further shrinkage in the current account deficit. (ILKHA)
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