Statements from Trade Minister Bolat regarding Turkish economy's growth data
Trade Minister Ömer Bolat shared the size reached by the Turkish economy and foreign trade figures at a meeting in New York.
Speaking at the ASKON meeting held in New York, Trade Minister Ömer Bolat stated that Turkey has significantly increased its production capacity in recent years and reached a large economic volume.
Economic Growth and Production Capacity
Trade Minister Ömer Bolat stated that Turkey has greatly increased its production capacity from its economic size in 1980 to the present day.
According to evaluations, Turkey's production volume reached $1 trillion 706 billion as of June.
Exports and Foreign Trade Volume
Minister Bolat reported that as of August, total exports reached $405 billion, comprising $280 billion in goods exports and $125 billion in services exports.
Along with import figures, total foreign trade volume was officially recorded to have reached a size of $860 billion.
Position in the Global Economy
Addressing Turkey's economic ranking in the international arena, Trade Minister Ömer Bolat reported that the country ranks as the world's 16th largest economy.
When considering purchasing power parity, it was stated that Turkey ranks 11th in the global ranking.
Trade Relations with the US
Stating that the US is a critical partner for Turkey, Bolat emphasized that the country is the second largest export and fourth largest import partner.
It was shared that the total foreign trade volume between the two countries has currently reached the level of $38 billion.
Targeted Trade Volume
ASKON President Orhan Aydın expressed that they attach great importance to developing existing commercial relations between Turkey and the United States.
Aydın stated that they place extreme importance on the goal of bringing the total trade volume between the two countries to the level of $100 billion.