Automotive Exports August 2023

Türkiye’s share
in global exports
hits 1.04 pct
Türkiye’s rolling 12-month exports have
amounted to $255.7 billion in the first
quarter of 2023 that corresponded to an
all-time-high of 1.04 percent share in global
exports.
The country’s share in global exports
surpassed the 1 percent-mark for the first
time in 2021 at $225 billion, Trade Minister
Ömer Bolat wrote on Twitter, adding that
the volume of global exports stood at $22.3
trillion in that year.
In 2022, export revenues climbed to $254.2
billion and captured a 1.02 percent share in
global exports, according to the minister.
In 2002, the country’s share was 0.55
percent or $6.5 billion.
Türkiye aims to boost goods export to $400
billion and to have a 1.2 percent share
in global exports in 2028, Bolat said in a
speech he delivered in a gathering at the
Istanbul Chamber of Commerce (İTO) on
July 13. He also noted that services export
revenues climbed to $90.5 billion last year
from $59 billion.
“This year’s target is to generate $120
billion in services exports. We also aim to
increase our share in global services export
to 1.5 percent in 2028.”
The government is working to reduce
imports to achieve a balanced foreign
trade, Bolat said, stressing the risks from
energy imports.
Türkiye’s energy import bill was $98 billion
last year, whereas the total foreign trade
deficit stood at $110 billion, he added.
With new gas and oil finds inside Türkiye,
the country’s energy foreign trade will
become more balanced in the next two to
three years, according to the minister.
August 2023 44