Turkish exporters have locked onto the country’s new export target of $211 billion for 2021, as announced earlier this month in the nation’s three-year economic program.
Ismail Gülle, the head of the Turkish Exporters’ Assembly (TIM), said Tuesday the country is on track to achieve the year-end goal after exports rose 37% year-on-year during the first eight months of 2021 to $140 billion.
The eight-month figure was up 20% from the same period of 2019 before the pandemic. Imports reached $170 billion, rising 25.5% from a year ago.
After exceeding the threshold of $200 billion for the first time ever in July, the country’s 12-month rolling exports reached $207.5 billion last month.
In case it achieves the year-end target, Turkey will be far exceeding the earlier official target of $184 billion as well as the $198 billion target set for 2022.
Gülle said within five years Turkey could step up efforts to reach an annual level of $300 billion, according to a news release by the assembly.
Despite the worldwide havoc due to the pandemic, he said sales totaled $169.6 billion in 2020, beating the target.
Exports were down 6.26% in 2020, while imports rose 4.3% to $219.4 billion. The foreign trade gap widened by 69.12% to $49.9 billion.
Stressing that all Turkish sectors have scored significant achievements over the last two decades, Gülle explained: “Our production facilities have been modernized, our teams have become specialized, our capacities have sharpened, and we have become a hub for quality products.”
“Now is the time to boost the added value of our exports,” he added.
Turkey’s exports target is $230.9 billion for 2022 and grows to $255 billion by 2024, according to the government’s medium-term program, announced a week ago.
Please click to read our informative text prepared pursuant to the Law on the Protection of Personal Data No. 6698 and to get information about the cookies used on our website in accordance with the relevant legislation.
6698 sayılı Kişisel Verilerin Korunması Kanunu uyarınca hazırlanmış aydınlatma metnimizi okumak ve sitemizde ilgili mevzuata uygun olarak kullanılan çerezlerle ilgili bilgi almak için lütfen tıklayınız.