Türkiye Reports Record July Exports of $25.6 Billion

Türkiye's exports reached a record monthly high of $25.6 billion in July, representing a 2.9% increase year-on-year. Ömer Bolat, the Trade Minister of Türkiye, announced the figures during a press conference in Ankara, noting that the total foreign trade volume grew 4.1% to $58.6 billion.

While exports grew, imports rose more sharply by 5.2% to nearly $33 billion. This imbalance caused the foreign trade deficit to widen by 14%, reaching $7.37 billion for the month. For the period between January and July, exports increased 3.4% to $161.6 billion, while the seven-month trade deficit rose 8.2% to $60.5 billion.

Annualized exports reached a peak of $278.6 billion as of July, reflecting a 3.4% increase compared to the previous 12-month period.