Treasury and Finance Minister Mehmet Şimşek Evaluates September Foreign Trade and Current Account Deficit

Treasury and Finance Minister Mehmet Şimşek evaluated the September foreign trade data via his social media account. Drawing attention to the increase in export figures, Şimşek stated that the effects of the war remained more limited than expected.

September Export Figures

Treasury and Finance Minister Mehmet Şimşek announced that exports recorded an annual increase of 15.4 percent in September.

Along with these realized data, it was reported that the annual export increase in the first three quarters stood at 5.2 percent.

Annualized Export Volume

According to the official data announced, Turkey's annualized export volume reached $283.7 billion.

Despite challenges in the global economy, this growth in export volume continues to exhibit a sustainable structure.

Geopolitical Tensions and Current Account Deficit

It was stated that despite the import increase triggered by commodity prices, the growth in the foreign trade deficit remained more limited than anticipated.

Despite regional tensions, the ratio of the current account deficit to national income is projected to remain at a manageable level of 2.6 percent.

Support Provided to the Real Sector

It was emphasized that strategic steps to support exports against the challenging effects of global conditions are being taken with determination.

By easing the application conditions of foreign exchange conversion support, the number of companies that can benefit from this opportunity has been increased.