Türkiye posts second-highest daily export figure on verge of trade war

Türkiye recorded $2.06 billion in good exports on Friday, the second-highest daily export figure in its history. Trade Minister Omer Bolat praised on Saturday.

In his post on X, “The upward momentum in exports continues,” Minister Bolat said, emphasizing the resilience of Türkiye’s trade sector amid global economic challenges.

Bolat underlined that this achievement comes at a time when international protectionism is on the rise, making it increasingly difficult for countries to access global markets. Despite these hurdles, he noted, Türkiye’s goods and services exports remain a driving force behind the national economy, playing a key role in economic growth.

Türkiye has increased its exports of goods and services by 7.5 times over the past 22 years, reaching a total of $377 billion, Bolat remarked, stressing that this long-term growth has made a substantial contribution to boosting domestic production, creating employment, reducing unemployment, and improving the country’s foreign trade and current account balances.

In 2024, Türkiye’s exports reached an all-time high of $261.8 billion, compared to $344.01 billion in imports.

Trade deficit widened at start of 2025

On the other hand, Türkiye’s trade deficit surged by 14.8% year-on-year to reach $7.77 billion in February, driven by rising imports and a decline in exports, according to official figures released Thursday.

Exports fell by 1.6% on an annual basis, totaling $20.76 billion in February, while imports increased by 2.4% to $28.53 billion, the Turkish Statistical Institute (TurkStat) reported.

When energy products and non-monetary gold are excluded, the foreign trade gap narrowed by 2.3% to $19.13 billion over the same period.

The exports-to-imports coverage ratio dropped from 75.7% in February 2024 to 72.8% this year.