Highest export record broken in July and annual figure announced
Trade Minister Ömer Bolat shared foreign trade data for July and announced that annualized exports have increased.
According to provisional foreign trade statistics for July announced by Trade Minister Ömer Bolat, Turkey's exports increased by 2.9% to reach the highest July level in history.
July Export Figures
Turkey's exports in July recorded an increase of 2.9% compared to the same month of the previous year, totaling $25 billion 623 million.
With this data, it was officially announced that the highest July export value in history has been achieved.
Seven-Month and Annual Outlook
Despite global negativities and regional wars, exports in the first 7 months of the year rose by 3.4% to $161 billion 539 million.
The annualized export figure also increased by 3.4% in July compared to last year, reaching the level of $278.5 billion.
Imports and Foreign Trade Balance
In July, goods imports recorded an increase of 5.1% compared to the same period of the previous year, realizing at the level of $32 billion 966 million.
Additionally, official reports stated that the annualized import figure reached $375.3 billion.
Medium-Term Program Target
Minister Ömer Bolat emphasized that a resilient outlook in exports is maintained despite geopolitical tensions in the global economy and weak external demand.
It was stated that efforts will be carried out decisively in the upcoming period to exceed the $282 billion export target included within the scope of the Medium-Term Program.