“As of October, our 12-month rolling exports reached $254.8 billion”
Speaking at the Innova-League Awards Ceremony in Istanbul, President Erdoğan said: “Despite all the difficulties and problems experienced on a global scale, our exports still maintain their upward trend. Recently, we broke another new record in October. Our exports in October increased by 7.4 percent year-over-year, reaching $22.9 billion. Thus, we had the joy of reaching the highest October export volume. As of October, our 12-month rolling exports reached $254.8 billion.”
President Recep Tayyip Erdoğan delivered a speech at the Innova-League Awards Ceremony at Haliç Congress Center.
Expressing his pride in all the companies that contribute to Türkiye’s production, employment and exports, especially the Innova-League Champions, President Erdoğan stated that the regular increase in the number of companies applying to the Innovation Development Program every year shows that the culture of innovation has started to take root in the business world.
Stating that Innova-League, which started with 460 applications in 2014, has reached 2003 companies from 64 different cities this year, President Erdoğan said: “We have awarded 89 different companies so far. The total exports of our award-winning companies last year approached $19 billion. I believe that this figure will increase even more.”
“OUR EXPORTS MAINTAIN THEIR UPWARD TREND”
Voicing his pleasure in seeing exporters making the best of the incentives, President Erdoğan said: “When we came to power, our country’s export volume was $36.1 billion. Last year, our export volume was $254.2 billion. With this rate of increase, Türkiye became the third country to increase its exports the fastest among OECD countries. Despite all the difficulties and problems experienced on a global scale, our exports still maintain their upward trend. Recently, we broke another new record in October. Our exports in October increased by 7.4 percent year-over-year, reaching $22.9 billion. Thus, we had the joy of reaching the highest October export volume. As of October, our 12-month rolling exports reached $254.8 billion. Moreover, the annual current account balance improved by $7.3 billion in the last two months.”
“WE NEED TO FOCUS ON EXPORTING HIGH VALUE-ADDED PRODUCTS
Underscoring that these developments were only the beginning and much more would be accomplished, President Erdoğan said: “We will definitely achieve the export goals we set in the Medium Term Program and the 12th Development Plan. At this point, I would like to draw your attention to one point in particular. The increase in exports in terms of quantity is undoubtedly important and valuable. However, what we, as Türkiye, need to focus on from now on is the increase in the quality of exports. Along with the quantitative increase, we need to go beyond and focus on exports of high value-added products. In fact, we have made significant progress here in the past 21 years. The share of medium-high and high-tech product exports in manufacturing, which was 37 percent in 2022, rose to 40.3 percent in the first 10 months of this year. I find it extremely valuable that the upward trend continues. However, export value per kilogram, which hovers around 1.2 or 1.3 dollars on average, frankly, do not befit the Turkish economy.”
Pointing to the need to diversify and develop the range not only with products that are high in weight but also in cost, President Erdoğan said that the way to achieve this was to increase the share of high-tech products in exports.
