Web Desk: Turkish President Recep Tayyip Erdoğan announced that the country’s exports have reached a record-breaking level of $262 billion in 2024, marking a new milestone in Turkey’s trade history. He expressed optimism for further improvements in exports in 2025.
Speaking about the achievement, President Erdoğan acknowledged the challenges faced last year, describing 2023 as a “painful” period that negatively impacted global trade. Despite these hurdles, Turkey’s exports grew by 2.5% in 2024 compared to 2023, reaching the highest level ever recorded.
In 2023, exports stood at $255.8 billion, while imports saw a 4.9% year-on-year decline, amounting to $344.1 billion. This reduction in imports, coupled with the surge in exports, significantly improved Turkey’s trade balance.
President Erdoğan highlighted that Turkey’s trade deficit decreased by 22.7%, from $106.3 billion to $82.2 billion. By the end of 2024, the deficit was further reduced to $24 billion.
Looking ahead to 2025, Erdoğan expressed hope for continued progress but urged caution in navigating potential risks. He pointed out concerns regarding Germany, Europe’s largest economy, and the broader Eurozone, identifying negative outlooks in these regions as critical challenges.
To mitigate such risks, the President emphasized the need to explore new markets and establish stronger trade partnerships. “By diversifying our trade portfolio, we aim to reduce vulnerabilities and narrow the trade gap,” he said.
This achievement reflects Turkey’s resilience and strategic focus in the face of global economic uncertainties, setting a positive trajectory for the country’s trade in the coming years.
