Annualized Exports Rose to $283.7 Billion

Treasury and Finance Minister Mehmet Şimşek announced that exports increased by 15.4 percent on an annual basis in September, and the annualized export figure reached $283.7 billion.

Export Increase in September

Treasury and Finance Minister Mehmet Şimşek stated that exports recorded an annual increase of 15.4 percent in September, while this increase materialized at 5.2 percent in the first three months.

Foreign Trade and Current Account Deficit Status

Minister Şimşek stated that despite rising imports driven by commodity prices, the increase in the foreign trade deficit remained more limited than anticipated. He also emphasized that despite geopolitical tensions, the ratio of the current account deficit to national income is projected to remain at manageable levels of 2.6 percent.

Steps to Support the Real Sector

Stating that steps to support exports continue to be taken during a period of challenging global conditions, Şimşek conveyed that the application conditions for foreign exchange conversion support have been made flexible and simplified. Expressing that the number of companies eligible to benefit from this opportunity has been increased, Şimşek noted that the real sector, which produces, provides employment, and adds value, will continue to be supported.