Minister Şimşek’s Analysis of Export Figures: The Latest Updates
Treasury and Finance Minister Mehmet Simsek recently released a statement through his social media account regarding the current state of Turkey’s exports and imports. According to Simsek, exports in February were impacted by various factors such as parity, lack of working days, and adverse weather conditions, which led to a 1.5 percent annual decrease. However, the first two months of the year saw an overall increase of 2.1 percent in exports.
On the other hand, imports in February experienced a 3.8 percent annual increase, but when excluding gold and energy, there was actually a 3.1 percent decrease. This adjustment helped to improve the foreign trade balance, excluding the volatile gold and energy sectors.
Simsek also mentioned the growing uncertainties in global trade, the rise of protectionist policies, and the sluggish growth in the European Union as potential challenges for Turkey’s foreign trade deficit this year. Despite these obstacles, he expressed confidence in the sustainability of the current account balance.
To address the impacts of these external factors on production and exports, the government is continuously ramping up its support measures. With a proactive approach and strategic policies, Turkey aims to maintain a stable and resilient foreign trade performance in the face of evolving global economic conditions.
