The volume of Turkish exports in May of this year increased by 14.4 percent – to 21.7 billion dollars. This is the highest May export indicator for the period of accounting for the country’s foreign trade. This was announced on Thursday by the Minister of Trade of Turkey Mehmet Mush.
According to the minister, export sales remain the driving force of economic growth in Turkey.
, in the meantime, the Ministry of Trade of Turkey reported that the low growth rate of the global economy and the preservation of inflation of the above predictable level, are not reflecting the influence of the country’s economy, which is also facilitated by the situation in the financial sector.
Contrary to difficulties in the global economy and earthquakes that occurred in February, it is obvious that the Turkish economy was quite stable in 2023. Contrary to the consequences of earthquakes, in the first quarter of 2023, the Turkish economy increased by 4 percent, noted in the department.
The Ministry of Trade emphasized that according to the Organization for Economic Cooperation and Development (OECD), Turkey has entered the leaders among the G-20 countries (13 countries) to increase the export of services. So, the Turkish export of services in the first quarter of 2023 increased by 18.1 percent compared to the previous quarter, the report said.
“All these data indicate that the country’s economic activity after powerful earthquakes has restored much faster than predicted. Contrary to negative consequences caused by earthquakes in production and supply chain, as well as the uncertainty of the process in the world economy, the volume of Turkish exports in May in May It grew by 14.4 percent, reaching $ 21.7 billion. In January -May 2023, Turkish export increased to $ 102.5 billion, ”the report emphasizes.
“The volume of Turkish imports in May increased by 16 percent – up to $ 34.3 billion. The total volume of energy imports in the period under consideration decreased by 23.6 percent – to $ 5.3 billion. Reducing energy prices in 2022 rendered A significant impact on the reduction of energy imports. At the same time, gold imports, which had a significant impact on the recent increase in imports in the last period, increased by 114.1 percent compared to the previous year – up to $ 3 billion. In addition, the import of ground vehicles increased by 113 , 6 percent – up to $ 2.9 billion, and the import of cars – by 51.1 percent, up to $ 6.4 billion, ”the department summed up.