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- October 13, 202618°
- BIST10012,151-0.94%
- USD49.220.00%
- EUR55.21+0.28%
- GOLD4,196.10+0.13%
- INTEREST37.00%-1.00
- BITCOIN82,500-1.40%
- October 13, 202618°
Trade Minister Ömer Bolat says August exports rose 8.1% to $23.5 billion
Trade Minister Ömer Bolat announced that exports rose 8.1% year on year to $23.5 billion in August. Exports reached $185 billion in the January-August period, while annualized goods and services exports totaled $405.3 billion.
Trade Minister Ömer Bolat announced August foreign trade data at a press conference he held at the ministry with Mustafa Gültepe, president of the Turkish Exporters Assembly.
Bolat said Türkiye's economy had accelerated since the second quarter of the year. He said the economy grew by 2.3% in the second quarter and 2.5% in the first half of the year, adding that net goods and services exports accounted for 0.6 percentage points of the second-quarter growth.
Bolat said the increase in exports that began in April had supported economic growth and employment. He noted that the economy grew by 1% in the second quarter compared with the first quarter, with net goods and services exports contributing 1.6 percentage points to that growth.
National income and CDS data
Bolat said Türkiye's national income exceeded $1.706 trillion in the first half of the year, reaching an all-time high, and that confidence indexes had also recorded significant increases.
Bolat announced that the country's CDS premium had fallen to 217.5 as of September 2, its lowest level in the past five months. He said Türkiye's economy was progressing in a stable environment despite global economic challenges and geopolitical risks weighing negatively on energy and raw material prices.
Export target set at $282 billion
Bolat announced that August exports rose 8.1% year on year to $23.5 billion, marking the highest August export figure on record. He said the increase in August amounted to $1.766 billion, making it the third-highest monthly increase of the year after the 21% rise in April and the 22% rise in June.
Bolat said exports reached a record $185 billion in the January-August period. He noted that annualized exports rose to $280.3 billion in August, reaching the highest level in the history of the Republic of Türkiye.
Bolat said the export target for this year was $282 billion and that an increase of $1.7 billion was needed to reach it. He announced that the increase in export value over the past year amounted to $11.235 billion.
Services exports reach $125 billion
Bolat said annualized services exports had risen to an estimated $125 billion as of August, adding that the figure had increased by $2.5 billion from the $122.5 billion recorded in January. He noted that the year-end target for services exports was $128 billion.
Bolat said services sectors such as tourism, transport, education, healthcare, consultancy, information technology, film and trade fairs had continued their activities despite global challenges.
Bolat said annualized goods and services exports had reached a total of $405.3 billion, compared with $396 billion for the same total last year. He announced that the target for goods and services exports was $410 billion.
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