Erdoğan: We have broken the export record in the history of the Republic.

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President Recep Tayyip Erdoğan spoke at the "2024 Export Figures Announcement Program" at the Haliç Congress Center. In his speech, Erdoğan stated that exports in December 2024 reached 23.5 billion dollars, marking a 2.2% increase, thus breaking the record for the month of December.

Erdoğan reported that imports increased by 11.1% to 32.3 billion dollars, saying, "We set a record in export figures for the Republic's history for the entire year. Despite the negative circumstances I just mentioned, our goods exports in 2024 increased by 2.5% compared to 2023, reaching 262 billion dollars. Additionally, we broke the monthly export record in 12 out of the last 19 months."

31 PROVINCES EXPORTING OVER 1 BILLION DOLLARS

Erdoğan noted that 31 provinces exported over 1 billion dollars during the January-December 2024 period, and 54 provinces increased their exports, stating, "The top 5 provinces with the highest exports are Istanbul with 56.8 billion dollars, Kocaeli with 32 billion dollars, Izmir with 23.8 billion dollars, Bursa with 18.2 billion dollars, and Tekirdağ with 13.2 billion dollars."

Expressing that imports decreased by 4.9% to 344.1 billion dollars in 2024, Erdoğan said, "In 2024, we achieved positive gains in our foreign trade balance. We reduced the foreign trade deficit from 106.3 billion dollars in 2023 to 82.2 billion dollars in 2024. In other words, we decreased the foreign trade deficit by 24 billion dollars in 2024. The ratio of exports to imports increased by 5.5 percentage points to 76.1%. This ratio was only around 50% when we came to power in 2002."

390 BILLION DOLLAR TARGET FOR 2025

Recalling that he set a target of 375 billion dollars for exporters for goods and services exports last year, Erdoğan stated that he believes the total goods and services exports will exceed 390 billion dollars in 2025. Key points from President Erdoğan's statements:

"WE HAVE LEFT BEHIND A CHALLENGING YEAR FILLED WITH WARS AND MASSACRES"

Today, we have come together to evaluate the foreign trade data of 2024. At the very beginning of my speech, I congratulate all of our business world, our nation, and all friendly and brotherly peoples on the occasion of the new Gregorian year, together with you, our guests here. I also sincerely congratulate you on the blessed three months we have entered as of January 1, and I pray that God grants us health and well-being during Ramadan.

We have left behind a challenging year filled with wars, massacres, and conflicts, especially in our immediate vicinity, including Gaza and Lebanon. The Gaza tragedy, which has continued for 15 months and claimed the lives of 50,000 innocents, remains a deep wound within us and will continue to bleed throughout 2024.

"WE DID NOT LEAVE OUR PALESTINIAN BROTHERS ALONE IN THE FACE OF OPPRESSION"

In the last weeks of 2024, we sincerely hope that the sun of freedom and justice rising in Syria will also shine in the skies of Gaza, which have been darkened by warplanes in 2025. Just as we did not leave our Palestinian brothers alone in the face of oppression since October 7, 2023, as we did for 13 years in Syria. We have tried to alleviate the burden of the oppressed people of Gaza with 100,000 tons of humanitarian aid sent through various channels.

We have both supported and led all diplomatic efforts for the recognition of the State of Palestine by more countries. Turkey has been the only country to completely halt commercial transactions with Israel. Additionally, by completing our negotiations to expand the Free Trade Agreement with Palestine, we ensured that the Palestinian people do not suffer from our decision and provided them with additional contributions.

"WE HAVE NO TOLERANCE FOR THE LOSS OF EVEN ONE MORE INNOCENT LIFE IN GAZA"

With the onset of winter, we have no tolerance for the loss of even one more innocent life in Gaza, where the humanitarian disaster has worsened. With this understanding, we are making intense efforts to stop the massacres as soon as possible and to pave the way for lasting peace. Inshallah, we hope to see the positive results of these multifaceted efforts in the upcoming period. I would like to once again thank all representatives of our business world who supported this decision taken by our government in solidarity with the Palestinian people. Just as we were justified in Syria despite criticisms from both inside and outside, history will also confirm our righteousness in the Gaza crisis. Turkey's stance in favor of justice, peace, and compassion will be recognized.

"THIS TRADITION WILL CONTINUE, INSHALLAH"

Evaluating the foreign trade figures of the previous year has almost become a tradition of our government. We attach great importance to these meetings where we present our report card and account for our successes and shortcomings. We also see this as an essential element of our principle of accountability to the public. This tradition will continue, inshallah.

"I CONGRATULATE OUR EXPORTERS AND THE AMBASSADORS OF OUR BUSINESS WORLD"

If our increasing foreign trade figures each year have the government on one side, they certainly have our private sector on the other. First of all, I congratulate our exporters and the ambassadors of our business world who work selflessly to deliver Turkish products to all corners of the world. Shortly, we will examine the momentum Turkey has gained in foreign trade in 2024 in all its aspects. While making an objective assessment of the foreign trade figures, I believe that this point should not be overlooked. As Turkey, we have gone through a year filled with uncertainties, extremely painful and turbulent, especially in the context of regional developments. The war between our neighbors, Russia and Ukraine, in the Black Sea sometimes escalated to very dangerous levels and continued into 2024.

"A RELATIVELY BETTER YEAR AWAITS US IN 2025"

The protective measures that were implemented temporarily during the coronavirus process unfortunately continued to negatively affect global trade last year. The deterioration in fundamental economic indicators such as consumption, production, and inflation, which began with the pandemic, has not yet been overcome. Geopolitical tensions, political upheavals, and the ongoing struggle against inflation, which has not yet reached the desired levels, marked the last year globally. A relatively better year awaits us in 2025. However, it appears that global economic activity will remain below pre-pandemic averages, even as it recovers in 2025.

"WE REACHED A GROWTH RATE OF 3.2% IN THE FIRST 9 MONTHS OF THE YEAR"

According to OECD forecasts, the world economy is expected to close 2024 with a growth rate of 3.2%, and in 2025, it is projected to reach a growth rate of 3.3%. The American economy is expected to grow by 2.8% and 2.2%, respectively, while the Eurozone is expected to grow by 0.8% and 1.2%. The negative outlook in Germany, our largest trading partner, poses a significant risk factor for the Eurozone.

However, we will try to minimize this risk by finding new markets and new trade partners.

When we look at the overall picture, we can clearly see that despite the positive signals for global goods and services trade in 2025, unresolved hot conflicts and geopolitical tensions necessitate a more cautious and prudent approach.

Despite all these challenges in the global economy and our region, Turkey is confidently moving towards its goals. We continue to write new success stories with our investment, employment, production, and export-oriented growth strategy. Our economy, which recorded a growth rate of 2.1% in the third quarter of 2024, has been growing uninterrupted for 17 quarters. Thus, we reached a growth rate of 3.2% in the first 9 months of the year.

"WE EXPECT OUR PER CAPITA INCOME TO EXCEED 15 THOUSAND DOLLARS IN 2024"

In 2023, our economy was 1 trillion 130 billion dollars, and in the third quarter of 2024, it reached an annualized 1 trillion 260 billion dollars. We expect our per capita income, which was 13 thousand 243 dollars in 2023, to exceed 15 thousand dollars in 2024 and to rise above 17 thousand dollars in 2025. From where to where.

For 2025, we aim to achieve a growth rate of 4% with the support of net exports and fixed capital investments. I am pleased to express that the strong effects of production are also reflected in the recently announced employment data. Employment increased by 1 million 31 thousand people in the last year. The number of employed people reached 32 million 970 thousand in October 2024, marking the highest level in history. In the January-October 2024 period, our unemployment rate fell to an average of 8.8%, the lowest level in the last 23 years. Among men, we achieved the best unemployment rate in our history at 6.6%.

"THE DISINFLATION PROCESS HAS BEGUN"

The transition process that started in June 2023, aimed at creating a solid foundation for combating inflation, has ended as of June 2024, and the second phase, the disinflation process, has begun. The inflation data for 2024 announced by TÜİK this morning confirmed the correctness of the policies we have implemented. Inflation decreased to 1.03% on a monthly basis in December and to 44.38% on an annual basis.

Annual inflation has decreased by 20 points compared to the end of 2023 and by 31 points compared to the peak level in May 2024. In 2025, our inflation rate will also be in line with the levels announced in the medium-term program and the inflation report. We hope that these promising developments will continue. Because we see that the markets trust our government, trust our policies, trust our economic program, and along with all this, trust the strong potential of the Turkish economy.

Your support in this matter is also very valuable. We sincerely expect support from all stakeholders in our business world to contribute to increasing our exports in line with our targets and to reducing inflation back to single digits.

"EVEN IF WE FACE CHALLENGES, WE HAVE ALWAYS FOUND NEW WAYS, METHODS, AND MARKETS"

As exporters, you are the greatest witnesses of our 22-year struggle and at the same time our companions with whom we walk shoulder to shoulder. Over the last 22 years, we have worked hand in hand and heart to heart, and together we have truly taken our country to a very different level. We have traveled hundreds of times with our exporters and business people. We have virtually traveled every inch of the world. Everywhere we went, we jointly explained Turkey's potential, strength, and opportunities to statesmen and representatives of the business world. We addressed the issues of our exporters without making a distinction between big and small. We produced solutions in every area, from customs procedures to visa issues, from receivables collection to free trade agreements. Even if we faced challenges, we always found new ways, methods, and markets.

Thanks to our opening policies in Africa and Latin America, the Turkish business world has begun to demonstrate a strong presence in these regions by overcoming obstacles. Today, thank God, we are exporting in every corner of the world. Exports continue to be the flagship of the Turkish economy. Indeed, we can clearly see this when we look at the export figures for 2024.

"OUR 2024 GOODS EXPORT REACHED 262 BILLION DOLLARS"

Now I would like to share our foreign trade data for the past year with you. Friends, first of all, in December 2024, our exports increased by 2.2% to reach 23.5 billion dollars. Thus, we broke the December record. Our imports, on the other hand, increased by 11.1% to 32.3 billion dollars. In the entire year, we set a record in export figures, the highest in the history of the Republic. Despite the negative circumstances I mentioned earlier, our goods exports in 2024 increased by 2.5% compared to 2023, reaching 262 billion dollars. Additionally, we broke the monthly export record in 12 out of the last 19 months.

ISTANBUL IS THE CITY WITH THE HIGHEST EXPORTS

In the January-December 2024 period, 31 of our provinces exported over 1 billion dollars, while 54 provinces increased their exports. The top 5 provinces with the highest exports are Istanbul with 56.8 billion dollars, Kocaeli with 32 billion dollars, Izmir with 23.8 billion dollars, Bursa with 18.2 billion dollars, and Tekirdağ with 13.2 billion dollars.

"OUR IMPORTS HAVE DECREASED TO 344.1 BILLION DOLLARS"

In 2024, our imports decreased by 4.9% to 344.1 billion dollars. In 2024, we achieved positive gains in our foreign trade balance. We reduced the foreign trade deficit from 106.3 billion dollars in 2023 to 82.2 billion dollars in 2024. In other words, we decreased the foreign trade deficit by 24 billion dollars in 2024. The ratio of exports to imports increased by 5.5 points to 76.1%. This rate was only around 50% when we took office in 2002.

In 2024, the top three countries that stood out in terms of value increase in our exports were the United Kingdom with a 22.2% increase, the United States with a 9.9% increase, and Saudi Arabia with a 52% increase. In 2024, our exports to the European Union reached 108.7 billion dollars, an increase of 4.2%. It is very important that our country's exports to this market increased in an environment where the EU's imports decreased by 7.5% in the last 12 months.

Additionally, our exports to the members of the Organization of Islamic Cooperation increased by 6.1% to 70.1 billion dollars, and to the countries of the Turkic States Organization, they increased by 12.9% to 11.1 billion dollars. When we look at the top three chapters where the value of our exports increased the most, we see that motor vehicles increased by 5.3% to 32.5 billion dollars, iron and steel increased by 15.1% to 10.2 billion dollars, and electrical machinery and devices increased by 6.4% to 16.4 billion dollars.

"THE EXPORT OF HIGH-TECH PRODUCTS HAS INCREASED TO 8.8 BILLION DOLLARS"

Here, I would like to emphasize another important point; the contribution of joint, high, and high-tech products in production.

In 2024, the export of high-tech products increased by 19% in value, reaching 8.8 billion dollars. The export of medium-high technology products reached 92.4 billion dollars with an increase of 2.8%. The share of medium-high and high-tech product exports, which was 36.9% in 2022, rose to 40.4% in 2023 and is expected to reach 41% this year. This situation is an important sign of the quality improvement in our products.

While our foreign exchange exports are decreasing, our macroeconomic stability is strengthening, thus our economy is progressing on a more balanced growth trend. I hope that the export figures will be beneficial for our country, our nation, and our economy. Under this success, there is the signature of everyone, from the worker sweating in factories to the foreman, from the apprentice working in workshops to the journeyman, from the employers and investors who provide employment opportunities to our people, to our exporters who connect our products with the world.

Of course, I would like to happily mention that women contributed over 20% to these export figures. I sincerely congratulate all our exporters, especially women, and everyone who contributed.

"THE CURRENT ACCOUNT HAS SURPLUS ON A MONTHLY BASIS FOR THE FIRST TIME IN 5 YEARS FOR THE LAST 5 MONTHS"

We are experiencing the joy of exceeding our targets in service exports as well as in goods exports. As you know, our target for service exports in 2024 was 110 billion dollars. In the first 10 months of the year, we reached 97.1 billion dollars in service exports and a surplus of 54 billion dollars in service trade. When viewed on an annualized basis, we exceeded our target of 110 billion dollars with 112.5 billion dollars in service exports as of October. Both the performance in goods trade and the strong contribution of services have positively reflected on our current account balance.

The current account has had a surplus on a monthly basis for the first time in 5 years for the last 5 months. It seems that by the end of 2024, the current account deficit will decrease to around 10-11 billion dollars from last year's 40.4 billion dollars. Thus, we believe that the current account deficit as a ratio of national income will remain below 1% in 2024. As I always say, these successes are merely starting points. We will continue to work tirelessly, without paying attention to the doomsayers who say we are finished, to achieve much greater successes.

"WE WILL ALWAYS BE BY OUR EXPORTERS' SIDE, JUST AS WE WERE YESTERDAY"

I want you to know this; we will always be by the side of our exporters, who are the pride of the Turkish economy, just as we were yesterday. In 2024, we provided a total of 24.7 billion lira in support to our goods and service exporters. We are increasing the budget allocated for export supports to 33 billion lira in 2025. While taking an important step with the Export Development Joint Stock Company, we also provided a solution to the collateral issue with the guarantee system. Our Central Bank has increased the daily limit of rediscount credits by 13 times to 4 billion lira to support access to financing. The Central Bank has provided 573 billion lira in rediscount credits in the last year.

"WE HAVE ALSO STARTED WORK ON THE 2025 EXPORT PLAN"

We are making intense efforts to make Turkey a stronger, more competitive, and sustainable economic structure. Our Ministry of Trade has also started work on the 2025 export plan. We aim to expand the scope of supports for our exporters' participation in domestic and international fairs, facilitate access to supports, and accelerate support processes.

"I BELIEVE WE WILL EXCEED 390 BILLION DOLLARS IN 2025"

Today, we are not only evaluating the year 2024. We are also setting the targets for 2025. Last year, I set a target of 375 billion dollars for the export of goods and services for 2024. Thank God, you did not let my trust in you go to waste. I believe that in 2025, we will exceed a total of 390 billion dollars in goods and services exports. As your President, I trust that you will achieve an export figure that exceeds our targets next year. I pray that God opens our path and fortune. I wish that the highest export figure in the history of the Republic will be beneficial for our country, our nation, and you once again. I congratulate our Ministry of Trade, the Turkish Exporters Assembly, the Foreign Economic Relations Board, and everyone who works diligently to increase our trade. I celebrate everyone who contributed to this beautiful organization and greet you once again with respect and affection. May God protect you, stay healthy.