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

# 02 January 2024 19:55 (UTC +04:00)

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, APA reports citing Anadolu.

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

According to separate Trade Ministry data, the trade gap amounted to $106 billion in 2023, down from $109.5 billion in 2022.

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

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