Trade Minister Ömer Bolat announced September foreign trade data

Trade Minister Ömer Bolat evaluated the September foreign trade statistics through a written statement. Stating that exports in September rose by 15.3 percent compared to the same month of the previous year to reach 25 billion 967 million dollars, Bolat noted that this figure is the highest September export and the second-highest monthly export in the history of the Republic.

In a written statement regarding the September foreign trade data, Trade Minister Ömer Bolat stated that exports increased by 15.3 percent compared to the same month of the previous year, reaching 25 billion 967 million dollars. Emphasizing that with this rate, the second-highest monthly and highest September exports of the 103-year history of the Republic were achieved, Bolat expressed that despite regional wars and global adversities, exports in the 9-month period increased by 5.2 percent to 210 billion 952 million dollars. Stating that annualized exports in September rose by 5.2 percent compared to the previous year to 283.7 billion dollars, Bolat conveyed that this year's export target in the Medium-Term Program was surpassed on an annualized basis in September.

Informing that despite high levels in energy and commodity prices, merchandise imports in September increased by only 5.6 percent compared to the same month of the previous year to 31 billion 130 million dollars, Bolat noted that annualized imports materialized at the level of 379.7 billion dollars with a 5.8 percent increase. Stating that as a result of the double-digit increase in exports and the limited increase in imports, the foreign trade deficit dropped by 25.8 percent in September to 5 billion 163 million dollars, Bolat reported that the foreign trade balance in the 9-month period increased by 5.7 percent to 70 billion 967 million dollars, while the annualized foreign trade deficit was recorded as 95 billion 976 million dollars with a 7.3 percent rise. Bolat also expressed that within the scope of expectations regarding the services balance, the current account is expected to record a surplus of over 2 billion dollars in September.

Stating that a resilient appearance came to the fore in exports despite geopolitical tensions, protectionism, and weak external demand in the global economy, Bolat noted that they are working with the target of goods and services exports exceeding 410 billion dollars by the end of the year. As an evaluation, it was reported that within the scope of the Medium-Term Program, the share of high value-added and technology-intensive products will be increased to raise the share received from global trade, transformation in low and medium-tech sectors will be supported, and measures aimed at protecting domestic production will be sustained.