Evaluation from Minister Şimşek regarding foreign trade data

Minister of Treasury and Finance Mehmet Şimşek stated that despite the rising imports due to commodity prices, the increase in the foreign trade deficit remained more limited than envisaged at the beginning of the US/Israel-Iran War.

Şimşek shared the foreign trade data for September on his social media account.

Stating that exports increased by 15.4 percent annually in September, Şimşek pointed out that the export increase was 5.2 percent annually in the first three quarters.

"We continue to take steps to support exports"

Şimşek underlined that annualized exports reached 283.7 billion dollars and said:

"Despite rising imports due to commodity prices, the increase in the foreign trade deficit (USA/Israel-Iran) remained more limited than predicted at the beginning of the war. Thus, despite the effects of geopolitical tensions, we predict that the ratio of the current account deficit to national income will remain at manageable levels at 2.6 percent."

Emphasizing that they continue to take steps to support exports in this period when global conditions are challenging, Şimşek said, "By making the application conditions in foreign exchange conversion support more flexible and simple, we increased the number of companies that can benefit from this opportunity. We will continue to support our real sector, which produces, provides employment and brings added value to our country." he said.