Turkish monthly exports hit $25B record high peak

Defence affairs - business

Türkiye's monthly exports achieved a new historic peak by hitting the $25 billion mark for the first time, according to a top official on Saturday.

Turkish outbound shipments in July surged 11% compared to the year earlier, Trade Minister Ömer Bolat told an event in northern Samsun province, announcing the preliminary data.

He recalled that the value of shipments stood at $22.5 billion in July of last year and drew attention to the fact that an additional $2.5 billion was added to exports when comparing the same month in 2024.

"We broke the highest monthly goods export record in our history in July. Consequently, we broke the highest export record for July in our history and as of July, we reached the highest total goods export figure in our history for the past year," Bolat said.

"Another encouraging development: a slowdown in the rate of monthly import growth was achieved and the monthly foreign trade deficit in July narrowed significantly compared to the same month of the previous year and compared to June," he added.

At the same time, he noted that the export-to-import coverage ratio also improved.

"This is what we call a 'legendary month,' six major achievements in one. We reached an all-time high in monthly exports at $25 billion, up from $22.5 billion in July last year, an increase of $2.5 billion, or 11%," the minister said.

Bolat said exports in July increased by $4.5 billion compared to June, adding that the next target is to reach $26 billion in monthly exports.

"Our extraordinary efforts are reinforcing the process of rebalancing and stabilizing our economy," he emphasized.

Previously, the monthly record in exports was achieved in May this year with $24.8 billion.