Minister Şimşek's Assessment of September Foreign Trade Data and Deficit

In a statement on his social media account, Treasury and Finance Minister Mehmet Şimşek evaluated the September foreign trade data, stating that exports rose by 15.4 percent annually and the increase in the foreign trade deficit remained more limited than projected at the beginning of the war.

September Export Data

Treasury and Finance Minister Mehmet Şimşek shared the September foreign trade data with the public through a post on his social media account.

According to the statement, exports recorded a 15.4 percent increase on an annual basis in September.

First Three Quarters Performance

Minister Şimşek reported that the increase in exports stood at 5.2 percent annually in the first three quarters of the year.

In addition, it was officially emphasized that the annualized export figure reached $283.7 billion.

Foreign Trade Deficit and War Impact

Despite imports rising under the influence of commodity prices, it was stated that the increase in the foreign trade deficit remained more limited than anticipated at the beginning of the war.

As a result of these developments, despite the effects of 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 Exports

It was conveyed that steps to support exports continue to be taken during this period when global conditions are challenging.

Within this scope, it was noted that the conditions applied in foreign exchange conversion support have been made more flexible and streamlined.