Türkiye's exports in 2023 hit all-time high of $255.8B

By Tuba Ongun

Türkiye's exports in 2023 hit a record high of $255.8 billion, ticking up 0.6% from the previous year, President Recep Tayyip Erdogan announced on Tuesday.

"Thus, the figure surpassed our medium-term program's target of $255 billion," Erdogan told a news conference in Istanbul on the preliminary foreign trade data.

The exports-to-imports coverage ratio gained 0.8 percentage points from the previous year to reach 70.7% in 2023, Erdogan said.

He stressed that the country's foreign trade deficit narrowed 3.2% year-on-year in 2023.

"Except July, our trade gap shrank annually in the last 7 months of 2023," he explained.

The president said Türkiye aims to boost its goods and services exports in 2024 to over $375 billion, adding: "Türkiye has more than enough power to achieve this target."