“Our exports in 2023 have broken the Republican era record”

 

Announcing the 2023 foreign trade figures, President Erdoğan said: “Our exports have broken the Republican era record, reaching 255 billion 809 million dollars in 2023 with a 0.6 percent increase compared to the previous year. With this figure, we have surpassed even the 255 billion dollars target laid out in the Medium Term Programme.”

President Recep Tayyip Erdoğan announced the foreign trade figures of 2023 during an event in Ankara.

Expressing his happiness to be coming together, on the first workday of the new year, with exporters and the pioneers of the business community who work selflessly to promote trade and make sure Turkish products reach every corner of the world, President Erdoğan made remarks on the national and global outlook of the international trade.

Singling out inflation, triggered by the high cost of living, as one of the top issues affecting Türkiye just like all the other economies across the world, President Erdoğan said: “The inflation rates, which have reached the peaks of the last six or seven decades everywhere from Europe to America, continue to remain high despite all the measures taken. We aim to lower inflation back to single-digit figures without compromising production, employment and economic growth.”

“WE WILL STOP INFLATION FROM BEING A DAILY CONCERN FOR OUR CITIZENS” 

Noting that the measures implemented in the recent period have started to break the fever of inflation, President Erdoğan said: “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.”

“The exports have broken the Republican era record, reaching 255 billion 809 million dollars in 2023 with a 0.6 percent increase compared to the previous year,” said the President. “With this figure, we have surpassed even the 255 billion dollars target laid out in the Medium Term Programme. In December 2023, our exports hit 23 billion dollars, edging up by 0.44 percent The export-import coverage ratio in 2023 rose 0.8 points to 70.7 percent.”

“OUR ANNUAL SERVICES EXPORTS HAVE REACHED 99 BILLION 254 MILLION DOLLARS”

Pointing out that Türkiye’s foreign trade deficit has narrowed by 3.2 percent, President Erdoğan said: “We have reached the highest export figures in July, August, October, November and December. Our foreign trade deficit has continuously narrowed year-on-year in the last seven months of the year except for July. Our annual services exports have reached 99 billion 254 million dollars, an all-time high, as of October 2023. The surplus in the services foreign trade and the decrease in foreign trade deficit in the second half of the year led to a reduction in the current account deficit. There was a surplus of over 2 billion dollars in the current account in September and October. We expect the shrinkage in the current account deficit to continue with the effect of the fall in the foreign trade deficit in November and December. We have been witnessing a permanent reduction in foreign trade deficit and current accounts deficit over the last 5 months. We believe that the recovery will continue in the period ahead.”