Turkey sets double record in exports

In 2023, Turkey's share of global merchandise exports reached a record high of 1.08%, while its service exports reached the highest level in history at 1.3%

In 2023, Turkey's share of global merchandise exports rose to 1.08%, while its share of service exports increased to 1.3%, reaching their highest levels in history, as stated in a written statement from the Ministry of Trade. Despite challenging global economic conditions last year, a double record was set in the share of global merchandise and service exports.

According to the World Trade Organization (WTO) data, global merchandise exports decreased by 5% to $23.8 trillion in 2023. The statement noted the following:

"Despite weak global demand and earthquake disasters, Turkey's merchandise exports recorded a 1% increase to $256 billion. Thus, Turkey's share of global exports rose from 1.02% in 2022 to 1.08% in 2023, with an increase of 0.06 percentage points, reaching its highest level in history."

The statement indicating regional disparities in global merchandise exports reported a sharp decline in import demand in Europe, a decrease in North America, stable trends in Asia, and an increase in merchandise exports in energy-exporting economies.

RECORD IN SERVICE EXPORTS

 In a statement noting that the volume of goods trade increased by 3% in 2022 but declined by 1.2% in 2023, it was mentioned, 'The World Trade Organization (WTO) expects global trade volume to increase by 2.6% in 2024 and 3.3% in 2025. However, the WTO has indicated that regional conflicts, geopolitical tensions, and political uncertainties pose significant downward risks to these forecasts.

The statement highlighted that global service exports increased by 9%, reaching $7.8 trillion, and shared the following information:

 "Turkey's service exports amounted to $100.8 billion, reaching a record level with a share of 1.3% in global exports. As the Ministry of Trade, we continue our efforts with all our strength to increase Turkey's share in global production and trade through policies and strategies focused on value-added, innovation, and competitiveness in production and exports. We will continue to strengthen our position in the global supply chain by evaluating trends in global trade and increasing the gains we have achieved.'"