Statement from Minister Bolat regarding foreign trade and export targets

Bolat made a written statement regarding foreign trade statistics for August.

Noting that despite the regional wars and global negativities, a 4 percent increase in exports and a record of 184 billion 996 million dollars in the 8 months of the year, Bolat stated that a surplus of over 3 billion dollars is expected in the current account account in August.

"Measures to protect domestic production will continue"

Bolat stated that the target of 282 billion dollars in exports is expected to be achieved on an annualized basis as of September. Pointing out that the Ministry continues to work to exceed the 410 billion dollar target in goods and services exports, Bolat made the following evaluations:

"Despite the ongoing geopolitical tensions in the global economy, worsening international conditions, protectionism and weak foreign demand, a resilient outlook stands out in our exports. 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, and the transformation in low and medium technology-intensive sectors will be supported, enabling companies to turn to higher value-added production and exports. In line with the new dynamics in global trade, taking into account the needs of domestic producers against unfair competition, international exports will be increased. "Measures will continue to be taken to protect domestic production within the framework of obligations."