Minister Bolat: The Republic's historical record was broken with 267 billion dollars in annual exports

TRADE Minister Ömer Bolat announced the foreign trade figures for June. Minister Bolat said, "Our exports increased by 8 percent in June, reaching 20.5 billion dollars. What is pleasing is that this 8 percent increase has gone down in history as the highest monthly increase rate of the last 1 year. As of June, we broke another record in the last 12 months, with 267 billion dollars. This means a 3.2 percent increase. This year, we increased by 5.2 billion dollars; we took over from 261.8 on January 1. We have reached the record figure of 267 billion dollars in our annual exports, thank God."

'WE CONTINUE TO ACHIEVE SUCCESS WITH OUR EXPORT FAMILY'

Minister of Trade Ömer Bolat said, "2025 is the year that the first quarter of this century is behind us, but the global economy and global trade have experienced serious shocks, including customs duty wars and trade wars. In the last month, there was also a mini war between Pakistan and India. Then, in June, the Israel-Iran War that Israel started for 12 days between June 13-25. A ceasefire was achieved. Hopefully, it will be permanent and things will calm down. We are trying to protect our peace, tranquility, stability and grow in this environment right in the middle of this ring of fire in our beloved homeland. On the one hand, there are intense efforts and expenses to revive the earthquake zone, and on the other hand, there are cooling efforts related to domestic demand within the framework of the policy of fighting inflation, and our exporters are really stuck both in the outside world and at home. Despite this, we continue to write successes with our export family, with the great importance and leadership given to foreign economic relations by our President under the leadership of our Ministry of Trade, by showing great heroism."

'WE BROKE A NEW RECORD IN THE LAST 12 MONTHS WITH 267 BILLION DOLLARS'

Minister Bolat said, "We grew by 2 percent in the first quarter. The unemployment rate decreased. We also had a positive first 6 months in exports. Our exports increased by 8 percent in June, reaching 20.5 billion dollars. What is pleasing is that this 8 percent increase has gone down in history as the highest monthly increase rate of the last 1 year. We should also say that there is a calendar and parity effect in our favor in the total of 1 billion dollars. The 8 percent increase in our exports to the European Union in the first 6 months is very important, especially as our largest market and trade partner. We achieved the highest monthly increase in June, and the highest increase rate in the last 12 months since July was 8 percent in June. This is a morale-boosting, motivating and hopeful development. I would like to announce the first 6-month export figure here. Our exports in the first 6 months increased by 4.1 percent, reaching 131.4 billion dollars. Last year, it was 126.2. This is an increase of 5.2 billion dollars in the first 6 months. We provided it. This gives us great morale for the second 6 months. And we will pass to 270. We will exceed it. We believe in this wholeheartedly. As of June, we broke another record in the last 12 months with 267 billion dollars. This means a 3.2 percent increase. This year, we increased it by 5.2 billion dollars; we took over from 261.8 on January 1. We have reached the record figure of 267 billion dollars in our annual exports with you, thank God. We are also happy about the fact that we stayed below 30 billion dollars in imports because staying below 30 billion on average is an important threshold for us. In terms of keeping imports under control, our June imports are 28 billion 700 million dollars. There is a 15.3 percent increase," he said.

'THERE IS A 7.2 PERCENT INCREASE IN OUR IMPORTS'

Minister of Trade Ömer Bolat said, "Our monthly foreign trade deficit was 8.2 billion dollars in June. With a 39 percent increase and the export-import coverage ratio was 71.5 percent. There was a 4.1 percent increase in our exports in the first 6 months of the January-June period. An increase of 5.2 billion dollars. There was also a 7.2 percent increase in our imports. This means an increase of 12 billion dollars. When we subtract 5.2, we see that there was a 6.8 billion dollar increase in our foreign trade deficit in the first half of this year. The export-import coverage ratio decreased by 2 points in the first 6 months and was 72.7 percent. When we look at the annualized figures, as of the last 12 months, annual exports in June were 267 billion dollars and 8.3 billion dollars, I am talking about the net increase in goods exports in the last year. There was also a 10 billion dollar increase in annualized goods imports. It also reached 356 billion dollars. This means that our foreign trade deficit increased from the last year to 89 billion dollars. "It has increased. And the annual import increase was 2.9 percent. Again, in the last year, we have a very good level of 75 percent in terms of exports covering imports," he said.

Bolat said, "In the services trade, God willing, we increased our exports by 8.1 percent in April, reaching 8.5 billion dollars in services. We exported 30 billion dollars in 4 months, January and April. This means a 4.3 percent increase. Let's look at the current account. We closed 2023 with a 40 billion dollar deficit, and 2024 with a 10 billion dollar deficit. We reduced it from 40 to 30 thanks to you. And when we look at the first 4 months of this year, our current account deficit is 15.8 billion dollars annualized. And as of June, our Ministry of Trade's trade research estimates that our current account deficit in the first 6 months is at the level of 18.4 billion dollars annualized."

UAV

Reporter: News Center