Türkiye's exports reached a record high of $262 billion in 2024, marking a 2.5% annual increase, President Recep Tayyip Erdogan announced on Friday.
The foreign trade deficit decreased from $106.3 billion in 2023 to $82.2 billion, with the export-import coverage ratio rising to 76.1%, up 5.5 percentage points year-on-year.
December exports also set a record at $23.5 billion, a 2.2% increase, while imports rose 11.1% to $32.3 billion, totaling $344.1 billion for the year, down 4.9%.
Exports to the EU grew 4.2% to $108.7 billion, to the Organization of Islamic Cooperation by 6.1% to $70.1 billion, and to the Organization of Turkic States by 12.9% to $11.1 billion.
Erdogan acknowledged the challenges of 2024, including the ongoing Russia-Ukraine conflict, protectionist measures, and global economic difficulties stemming from the pandemic. However, he expects a better 2025, with the global economy projected to grow by 3.2% in 2024 and 3.3% in 2025. He noted the risks posed by Germany’s economic situation but emphasized Türkiye's efforts to find new markets.
Regarding Türkiye's economy, Erdogan highlighted the end of the transition period in June 2024 and the start of the disinflation process, with annual inflation dropping to 44.38%. GDP grew from $1.13 trillion in 2023 to $1.26 trillion in Q3 2024, with per capita income expected to exceed $15,000 in 2024 and $17,000 in 2025.
Türkiye aims for 4% growth in 2025, supported by net exports and capital investments. The economy has shown positive growth for 17 consecutive quarters, including a 2.1% increase in Q3 2024.
Türkiye's tourism industry seeks opportunities to diversify its offerings. The country well known for summer resorts now tries to make a name for itself as a unique place to visit during the winter holidays.
Belgium strengthens ties with Türkiye, marking 60 years of cooperation. Support for EU accession, trade growth, Syria’s reconstruction, and a call for peace in Israel-Palestine.
Serdal Adali becomes Besiktas’s new president, winning a record 8,901 votes. Leadership change follows Hasan Arat's resignation over poor team results.
Türkiye unveiled a $14 billion plan to boost development in its southeast, aiming to bridge economic disparities and foster peace amid hopes to end the PKK insurgency.
President of Türkiye Recep Tayyip Erdogan announced a 30-percent increase in the minimum wage for 2025, raising it to 22,104 lira (about 630 U.S. dollars).
The city of Harbin, opened its annual Ice and Snow Festival on Sunday. Visitors enjoy the colorful fireworks, shimmering ice castles, and thrilling super-ice slides.
A Hamas top official has provided a list of 34 hostages to be released as part of its ceasefire deal with Israel.
Madrid's streets were filled with excitement as the Three Kings Parade returned, drawing thousands of spectators. The event marked the end of the Christmas season, with families and children celebrating the magic of the night.
Uzbekistan to host CITES COP20 in Samarkand, uniting 184 Parties to shape the future of wildlife trade, conservation, and sustainability during CITES’ 50th anniversary.
The Golden Globe awards on January 5 celebrated major wins for historical drama Shogun and UK-based series Baby Reindeer. The night also honored The Brutalist, Emilia Perez, and notable performances from Colin Farrell and Jessica Gunning.
Azerbaijan sends the black boxes of the Aktau plane crash to Brazil's CENIPA for decoding, ensuring transparency, objectivity, and global standards in the investigation.
The Azerbaijan Grand Prix returns to Baku from September 19-21, 2025, as the 17th race of the season.
A Hamas top official has provided a list of 34 hostages to be released as part of its ceasefire deal with Israel.
Madrid's streets were filled with excitement as the Three Kings Parade returned, drawing thousands of spectators. The event marked the end of the Christmas season, with families and children celebrating the magic of the night.
The FBI has released video footage showing Shamsud-Din Jabbar, the suspect in the deadly New Year's Day attack in New Orleans, recorded with Meta glasses during visits to the French Quarter months before the incident.
President Joe Biden criticized President-elect Donald Trump’s push to eliminate birthright citizenship, calling it "awful," while simultaneously signing a major bill to expand Social Security benefits for public retirees.
A tragic helicopter crash in Porbandar, India, on January 5 claimed the lives of three Coast Guard personnel. The Advanced Light Helicopter (ALH) Dhruv caught fire after crashing near the runway.
The city of Harbin, opened its annual Ice and Snow Festival on Sunday. Visitors enjoy the colorful fireworks, shimmering ice castles, and thrilling super-ice slides.
A Hamas top official has provided a list of 34 hostages to be released as part of its ceasefire deal with Israel.
Madrid's streets were filled with excitement as the Three Kings Parade returned, drawing thousands of spectators. The event marked the end of the Christmas season, with families and children celebrating the magic of the night.
Uzbekistan to host CITES COP20 in Samarkand, uniting 184 Parties to shape the future of wildlife trade, conservation, and sustainability during CITES’ 50th anniversary.
The Golden Globe awards on January 5 celebrated major wins for historical drama Shogun and UK-based series Baby Reindeer. The night also honored The Brutalist, Emilia Perez, and notable performances from Colin Farrell and Jessica Gunning.
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