403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Türkiye Shatters Records with USD25B Export Surge in July
(MENAFN) Türkiye’s Trade Minister Omer Bolat announced on Saturday that the nation set a historic milestone by reaching $25 billion in exports for July, marking the highest monthly export figure ever recorded.
Speaking at a press briefing in Samsun, Bolat stated, “We achieved the highest monthly export figure in our history this July. This marks not only the highest July export figure ever recorded, but also the highest 12-month cumulative goods export volume in our nation’s history.”
Bolat also pointed out a positive trend in imports, with monthly import growth slowing down considerably. He emphasized that the foreign trade deficit shrank significantly in July compared to both June and the same month last year, and that the export-to-import coverage ratio showed improvement.
“This is what we call a ‘legendary month,’ six major achievements in one. We reached an all-time high in monthly exports at $25 billion, up from $22.5 billion in July last year, an increase of $2.5 billion, or 11%. This gain also contributed an additional $2.5 billion to our 12-month cumulative exports,” he explained.
The minister reported a $4.5 billion jump in exports from June to July and set an ambitious goal of hitting $26 billion in monthly exports next.
“Our extraordinary efforts are reinforcing the process of rebalancing and stabilizing our economy,” Bolat emphasized.
Imports climbed 5.4% in July to $31.4 billion, though the minister described import levels as steady and reasonable.
The foreign trade deficit contracted to $6.4 billion last month, a 12% decrease from July 2024’s $7.3 billion, marking the smallest gap in nine months.
On the services front, Bolat revealed Türkiye’s exports rose from $106 billion in 2023 to $115 billion in 2024, with a target of $121 billion for 2025.
He acknowledged ongoing global disruptions—such as trade wars, tariff conflicts, and volatile commodity prices affecting energy and gold—have posed challenges.
Yet, despite regional tensions, Bolat affirmed: “Under the leadership of our president, Türkiye continues its strong rise as a pillar of stability in the economy, foreign policy, defense, transportation, and energy.”
Bolat also highlighted Türkiye’s active trade diplomacy through multilateral, bilateral, regional, and global agreements.
Regarding relations with the European Commission, he noted positive developments with 14 trade barriers lifted and only 9 to 10 still pending.
Looking ahead, Bolat reiterated efforts to modernize the Customs Union, citing a new directive granting longer-term visas to Turkish citizens with a history of EU travel and regular returns, following productive negotiations.
Speaking at a press briefing in Samsun, Bolat stated, “We achieved the highest monthly export figure in our history this July. This marks not only the highest July export figure ever recorded, but also the highest 12-month cumulative goods export volume in our nation’s history.”
Bolat also pointed out a positive trend in imports, with monthly import growth slowing down considerably. He emphasized that the foreign trade deficit shrank significantly in July compared to both June and the same month last year, and that the export-to-import coverage ratio showed improvement.
“This is what we call a ‘legendary month,’ six major achievements in one. We reached an all-time high in monthly exports at $25 billion, up from $22.5 billion in July last year, an increase of $2.5 billion, or 11%. This gain also contributed an additional $2.5 billion to our 12-month cumulative exports,” he explained.
The minister reported a $4.5 billion jump in exports from June to July and set an ambitious goal of hitting $26 billion in monthly exports next.
“Our extraordinary efforts are reinforcing the process of rebalancing and stabilizing our economy,” Bolat emphasized.
Imports climbed 5.4% in July to $31.4 billion, though the minister described import levels as steady and reasonable.
The foreign trade deficit contracted to $6.4 billion last month, a 12% decrease from July 2024’s $7.3 billion, marking the smallest gap in nine months.
On the services front, Bolat revealed Türkiye’s exports rose from $106 billion in 2023 to $115 billion in 2024, with a target of $121 billion for 2025.
He acknowledged ongoing global disruptions—such as trade wars, tariff conflicts, and volatile commodity prices affecting energy and gold—have posed challenges.
Yet, despite regional tensions, Bolat affirmed: “Under the leadership of our president, Türkiye continues its strong rise as a pillar of stability in the economy, foreign policy, defense, transportation, and energy.”
Bolat also highlighted Türkiye’s active trade diplomacy through multilateral, bilateral, regional, and global agreements.
Regarding relations with the European Commission, he noted positive developments with 14 trade barriers lifted and only 9 to 10 still pending.
Looking ahead, Bolat reiterated efforts to modernize the Customs Union, citing a new directive granting longer-term visas to Turkish citizens with a history of EU travel and regular returns, following productive negotiations.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment