Türkiye's trade in lira exceeds $27.5B in 2023

By Mert Davut

ANKARA (AA) – Türkiye's foreign trade in lira doubled year-on-year, reaching 821.6 billion liras (approximately $27.6 billion) in 2023.

While Türkiye's exports in 2023 hit a record high, the hike in trade in its local currency was noteworthy, according to data compiled by Anadolu from the Turkish Trade Ministry.

Exports in Turkish lira soared by 73.6% year-on-year, reaching 224.5 billion liras (about $7.5 billion), while imports recorded 597.5 billion liras (about $20 billion).

After fluctuating in the first half of 2023, foreign trade volume in Turkish lira followed an upward trend in the second half.

The figure peaked in October at 87.9 billion liras (approximately $3 billion).

Türkiye's exports rose to 25.3 billion liras ($849.8 million), and imports skyrocketed to a whopping 62.5 billion liras (around $2.1 billion) in October 2023.

The US dollar/Turkish lira exchange rate was 29.7655 as of 04.38 p.m. local time (1338GMT) on Thursday.

*Writing by Emir Yildirim