Minister Şimşek's Evaluation of July Current Account Deficit and Exports

Treasury and Finance Minister Mehmet Şimşek evaluated the July current account data, reporting that the annualized current account deficit reached $40.7 billion and that exporters maintained their position despite challenging global conditions.

July Current Account Deficit Figures

Treasury and Finance Minister Mehmet Şimşek shared the July current account data with the public through a statement on his social media account. According to the statement, the annualized current account deficit materialized at the level of $40.7 billion in July.

Global Markets and the State of Exports

Drawing attention to increasing uncertainties and cost pressures in global trade, Minister Şimşek emphasized that exporters preserved their positions thanks to product and market diversification. A strong production infrastructure and rapid adaptability played a decisive role during this process.

Impact of Service Exports on External Balance

Minister Mehmet Şimşek stated that the resilient course exhibited by service exports continues to support our external balance positively.

Future Period Policies and Objectives

In the upcoming period, steps will be taken to increase the competitiveness of exporters, and structural transformation policies that will strengthen high-tech and value-added production will be resolutely pursued.