Türkiye's exports reach record $24 billion in October, minister says

Türkiye's export economy reached unprecedented levels in October, achieving $24 billion in international sales that established new monthly records for the period. Trade Minister Omer Bolat announced the 2.3% year-over-year growth during an Istanbul press briefing, highlighting the country's sustained export expansion amid global economic challenges and regional instability.

Twelve-Month Export Milestone

The October performance contributed to a landmark twelve-month export total of $270.2 billion, representing the highest rolling annual figure in Türkiye's economic history. During the first ten months of the year, cumulative exports reached $224.6 billion, reflecting a 3.9% increase compared to the same period in the previous year, demonstrating consistent growth across multiple sectors.

Trade Balance and Import Trends

October imports rose 6.6% to $31.4 billion, resulting in a monthly foreign trade deficit of $7.4 billion. The January-October period recorded a cumulative trade gap of $74.4 billion, reflecting the ongoing balance between export growth and the nation's import requirements for energy, raw materials, and intermediate goods essential for industrial production.

Economic Context and Global Position

The record export figures reinforce Türkiye's position as an emerging manufacturing and export hub, with particular strength in automotive, machinery, textiles, and agricultural products. The sustained growth occurs despite global economic headwinds and regional conflicts, indicating the resilience of Türkiye's diversified export markets and competitive industrial base.