Minister Bolat: The second highest monthly export of our 103-year Republic history was reached

In his written statement, Bolat made an evaluation of the foreign trade statistics for September.

Stating that exports increased by 15.3 percent in September compared to the same month of the previous year, reaching 25 billion 967 million dollars, Bolat said, "Thus, with a double-digit increase rate, the second highest monthly exports and the highest September exports of our 103-year Republic history were reached. Despite the regional wars and global negativities, exports increased by 5.2 percent in the 9 months of the year, breaking a record with 210 billion 952 million dollars." made his assessment.

Bolat noted that annualized exports in September amounted to 283.7 billion dollars, an increase of 5.2 percent compared to last year.

Emphasizing that this year's export target in the Medium Term Program was exceeded on an annualized basis in September, Bolat stated that annualized goods exports increased by 14.1 billion dollars as of September.

Bolat stated that despite the high levels of energy and commodity prices, imports of goods in September amounted to 31 billion 130 million dollars, with an increase of only 5.6 percent compared to the same month of the previous year.

Pointing out that annualized imports reached 379.7 billion dollars as of September this year, with an increase of 5.8 percent compared to the same period last year, Bolat made the following evaluations:

"Due to the double-digit increase in exports and the limited increase in imports, the foreign trade deficit decreased by 25.8 percent in September, reaching 5 billion 163 million dollars. In the 9 months of the year, the foreign trade balance increased by 5.7 percent, reaching 70 billion 967 million dollars. Annually, the foreign trade deficit was recorded as 95 billion 976 million dollars, with a 7.3 percent increase. Within the scope of our expectations for foreign trade statistics and services balance, the current balance in September "It is expected that there will be a surplus of over 2 billion dollars in the transactions account."

"A resilient outlook in exports stands out"

Bolat emphasized that a resilient outlook in exports stands out despite the ongoing geopolitical tensions in the global economy, worsening international conditions, protectionism and weak foreign demand.

Underlining that they continue their work with the goal of exporting goods and services to exceed 410 billion dollars by the end of the year, Bolat said:

"Within the scope of the Medium Term Program, in order to increase the share of exports in global trade, the share of high value-added and technology-intensive products and services in exports will be increased, the transformation in low and medium technology-intensive sectors will be supported, and companies will be directed to higher value-added production and exports. In line with the new dynamics in global trade, measures will continue to be taken to protect domestic production within the framework of international obligations, taking into account the needs of domestic producers against unfair competition."