Turkey's Minister of Commerce Omer Bulat announced that the country reached a historical milestone in exports in October, which accounted for the highest export figure in Turkey's history.
Publish dateSunday 3 November 2024 - 12:54
According to Amac News: According to Bulat, in October, Turkey's exports exceeded 23.6 billion dollars, which shows an increase of 3.6 percent compared to the same month last year.
According to the Minister of Interior of Turkey, this is despite the fact that the country's exports have grown by 5.1% in the whole of last year and by 3.4% in the first half of this year.
On the other hand, the Purchasing Managers' Index (PMI) rose to 45.8, while the Consumer Confidence Index rose to 80.6 in October.
Turkey's imports in October saw a slight decrease of 0.1 percent, leading to a trade deficit of $5.7 billion, which is $1.1 billion less than the same month last year in Turkey, Türkiye Today quoted Bulat as saying.
In the first 10 months of the year, the export of goods reached 216.4 billion dollars from 209.7 billion dollars, which shows an increase of 6.7 billion dollars.
In contrast, Turkey's imports fell by 7.2 percent, bringing the total to $282 billion, resulting in a net saving of $22 billion.
The country's current account deficit from January to August reached $9.7 billion, which is a significant decrease compared to the $55 billion deficit recorded last year, which was affected by the Corona virus and geopolitical conflicts.
Trade in services has become an important part of foreign trade, with exports of services totaling $106 billion last year. In the first eight months of this year, the export of services reached 74 billion dollars, which is expected to reach more than 112 billion dollars by the end of the year.
Türkiye's trade minister confirmed that exports to Israel have been completely halted, while trade with Palestine continues.
The top five export countries of Türkiye are Germany, United States, Great Britain, Iraq and Italy.
According to the Minister of Interior of Turkey, this is despite the fact that the country's exports have grown by 5.1% in the whole of last year and by 3.4% in the first half of this year.
On the other hand, the Purchasing Managers' Index (PMI) rose to 45.8, while the Consumer Confidence Index rose to 80.6 in October.
Turkey's imports in October saw a slight decrease of 0.1 percent, leading to a trade deficit of $5.7 billion, which is $1.1 billion less than the same month last year in Turkey, Türkiye Today quoted Bulat as saying.
In the first 10 months of the year, the export of goods reached 216.4 billion dollars from 209.7 billion dollars, which shows an increase of 6.7 billion dollars.
In contrast, Turkey's imports fell by 7.2 percent, bringing the total to $282 billion, resulting in a net saving of $22 billion.
The country's current account deficit from January to August reached $9.7 billion, which is a significant decrease compared to the $55 billion deficit recorded last year, which was affected by the Corona virus and geopolitical conflicts.
Trade in services has become an important part of foreign trade, with exports of services totaling $106 billion last year. In the first eight months of this year, the export of services reached 74 billion dollars, which is expected to reach more than 112 billion dollars by the end of the year.
Türkiye's trade minister confirmed that exports to Israel have been completely halted, while trade with Palestine continues.
The top five export countries of Türkiye are Germany, United States, Great Britain, Iraq and Italy.
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Source : news agency wam
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