Türkiye's exports hit record level of $262B in 2024: President Erdogan

By Gokhan Ergocun and Mucahithan Avcioglu

ISTANBUL (AA) - Türkiye's exports hit a record high level of $262 billion during the last year, up by 2.5% on a yearly basis, President Recep Tayyip Erdogan announced on Friday.

The country's foreign trade deficit, which was at $106.3 billion in 2023, decreased to $82.2 billion, he said during an event in Istanbul.

The export-import coverage ratio reached 76.1% in 2024, up 5.5 percentage points on a yearly basis, Erdogan stressed.

In December alone, the country's exports rose by 2.2% to $23.5 billion, which is another record level, he added.

On Türkiye's gross domestic product (GDP), Erdogan said per capita income in the country, which was at $13,243 in 2023, is expected to exceed $15,000 in 2024 and surpass $17,000 in 2025.

He said Türkiye aims to reach 4% growth in 2025 with the support of net exports and fixed capital investments.

Türkiye, growing 2.1% in the third quarter, achieved positive growth rates over the last 17 quarters, he recalled.