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Turkey’s export performance reaches record levels in 2024
(MENAFN) Leader Recep Tayyip Erdogan announced on Friday that Turkey’s exports hit a historic high of USD262 billion last year, marking a 2.5 percent increase compared to the previous year.
During an event in Istanbul, Erdogan revealed that the country's foreign trade deficit, which stood at USD106.3 billion in 2023, decreased to USD82.2 billion in 2024.
He also highlighted that the export-to-import coverage ratio improved to 76.1 percent, up by 5.5 percentage points year-on-year.
In December alone, Turkey’s exports grew by 2.2 percent to reach USD23.5 billion, another record figure, he added.
Imports in December rose by 11.1 percent to USD32.3 billion, while total imports for 2024 reached USD344.1 billion, a decrease of 4.9 percent compared to the previous year.
Erdogan further noted that exports to the European Union increased by 4.2 percent to USD108.7 billion, exports to the Organization of Islamic Cooperation members rose by 6.1 percent to USD70.1 billion, and exports to countries within the Organization of Turkic States surged by 12.9 percent to USD11.1 billion.
He emphasized that while evaluating Turkey’s foreign trade performance, it is important to recognize the country’s extremely challenging and uncertain year, especially considering the regional developments that had a significant impact.
During an event in Istanbul, Erdogan revealed that the country's foreign trade deficit, which stood at USD106.3 billion in 2023, decreased to USD82.2 billion in 2024.
He also highlighted that the export-to-import coverage ratio improved to 76.1 percent, up by 5.5 percentage points year-on-year.
In December alone, Turkey’s exports grew by 2.2 percent to reach USD23.5 billion, another record figure, he added.
Imports in December rose by 11.1 percent to USD32.3 billion, while total imports for 2024 reached USD344.1 billion, a decrease of 4.9 percent compared to the previous year.
Erdogan further noted that exports to the European Union increased by 4.2 percent to USD108.7 billion, exports to the Organization of Islamic Cooperation members rose by 6.1 percent to USD70.1 billion, and exports to countries within the Organization of Turkic States surged by 12.9 percent to USD11.1 billion.
He emphasized that while evaluating Turkey’s foreign trade performance, it is important to recognize the country’s extremely challenging and uncertain year, especially considering the regional developments that had a significant impact.
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