Türkiye's exports hit a record $262 billion in 2024, with a reduced trade deficit and positive growth in key sectors, despite global challenges. Economic recovery and growth are expected in 2025.
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.
The leader of Yemen's Saudi-backed government announced the beginning of a major military operation against...
Uzbekistan’s grape exports have grown rapidly. In January-August 2025, the country exported 86,200 tonnes of fresh grapes worth $78.3 million...
The world’s space community is heading to Antalya for the 77th International Astronautical Congress (IAC), taking place from 5 to 9 Octo...
The co-pilot of Israel bound flydubai flight attempted to carry out a “terrorist attack” with an axe during the flight, the United Arab Emirates prosecutor general said on Saturday.
Hammam al-Hammami, the Flydubai co-pilot accused of stabbing the captain of an Israel-bound flight on Wednesday in a suspected terrorist attack, was banned from flying by Oman over concerns about his radical views, U.S. media reported on Friday, citing people familiar with the matter.
Two Iranian nationals have been charged in Britain with preparing a suspected terrorist attack targeting the Jewish community in northern England, police said on Friday (2 October).
A major bridge across the Dnipro river in Kyiv was hit in a Russian air attack on Saturday, the city's mayor, Vitali Klitschko said, as strikes on the capital's infrastructure continue.
Uzbekistan’s grape exports have grown rapidly. In January-August 2025, the country exported 86,200 tonnes of fresh grapes worth $78.3 million to 19 countries but can it turn these crops into a recognisable international product?
U.S. President Donald Trump has appointed Director of National Intelligence Jay Clayton to lead the administration’s latest effort to shape policy on artificial intelligence (AI), according to the Wall Street Journal.
Brazilians are voting on Sunday (04 October) in the first round of a closely contested general election, following a campaign shaped by corruption scandals, economic concerns and accusations of foreign interference.
The sound of air raid sirens and explosions rang out in Ukraine's capital Kyiv on Sunday (4 October) as German Chancellor Friedrich Merz arrived for a visit to show support for President Volodymyr Zelenskyy amid escalating Russian attacks.
An alleged 2024 rape case involving seven former members of Cornell University’s Chi Phi fraternity has been reopened after the alleged victim, known anonymously as Jane Doe in court documents, filed a civil lawsuit accusing the men of drugging and gang-raping her.
Bosnia and Herzegovina is voting in general elections on Sunday (4 October) that could shape the country’s stalled path towards European Union membership, as well as the competing influence of the United States and Russia in the Western Balkans.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment