Turkish President Recep Tayyip Erdogan announces record exports in 2022

Turkish President Recep Tayyip Erdogan. Credit: [email protected]

Record exports have been announced for 2022 by Turkish President Recep Tayyip Erdogan.

 

On Monday, January 2, Turkish President Recep Tayyip Erdogan announced that the country had achieved a record high in exports during 2022. Year-on-year growth of 12.9 per cent had been registered he detailed, with a total of US$254.2 billion in exports.

Speaking in the city of Istanbul while addressing the Turkey Exporters Assembly, Erdogan said: “Our goal now is to make Turkey one of the top 10 exporting countries”. He highlighted that 20 years ago when the Justice and Development Party first came to power, exports stood at only US$36 billion dollars.

In the space of 12 months, he added, the number of Turkish firms exporting had increased to more than 111,000 from 33,523 in 2021. Similarly, 24 cities were now involved in the export business as opposed to just five one year ago.

Erdogan pointed to foreign trade surplus reaching over US$10 billion with exports to Turkey’s biggest trading partner, the EU, recording a 12 per cent year-on-year growth.

In 2022, Turkey conducted a volume of 350 billion liras (US$18.7) worth of foreign trade in Turkish currency the President added. He stressed that this underscored the country’s efforts to carry out increased amounts of trade in local currency.

With national elections scheduled for the middle of June, Erdogan is under increased economic pressure. As of November last year, inflation rates in Turkey stood at 84.39 per cent. A sharp depreciation of the Turkish currency in 2022 saw it lose almost 70 per cent of its value.

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Written by

Chris King

Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]

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