Türkiye's Q2 export growth exceeds G20 average

Q2 Export Performance

Türkiye's goods exports surged 8.5% in the second quarter of this year — exceeding the 5.9% average growth recorded across G20 economies — according to preliminary data released by the Organization for Economic Co-operation and Development. The uptick marked a sharp rebound from the first quarter, when exports from Türkiye declined 1.8%, with the value of goods shipments rising from $67.3 billion to $73 billion based on seasonally adjusted figures. Service exports also accelerated, climbing 7.6% in the second quarter after a 7.3% drop in the first three months.

Global Trade Rankings

Among the world's largest economies, India led the expansion with a 20.4% jump in goods exports, followed by South Korea at 19.3%, Canada at 13.5%, and Mexico at 12.2%, the OECD reported. Türkiye's 8.5% expansion outpaced Australia, the United Kingdom, China, the United States, the European Union, Brazil, Germany, France, and Italy, while G20 goods imports collectively rose 6.7% on a seasonally adjusted basis.

Expert Analysis

Arzu Al, a professor of international political economy at Marmara University, told Anadolu Agency that the rise in imports and exports among G20 nations indicates that global demand has not completely weakened. "The trade in computers, semiconductor equipment, electronics, and machinery increased, signaling that production and investments are ongoing, while trade in services rose on transport, travel, and digital services," she said. She noted that the Russia-Ukraine war, Middle East conflict, energy price volatility, and trade policy uncertainty keep the global outlook fragile.

Strategic Outlook

"Trade protectionism is changing the direction, cost, and composition of trade," Al stated. She noted that major economies including the US, the EU, China, and India are protecting strategic sectors via tariffs, subsidies, export controls, and domestic production incentives, emphasizing that trade growth and protectionism are not mutually exclusive. "The Middle Corridor has become more important with the Russia-Ukraine war and other geopolitical conflicts, and steps have been taken to take advantage of that, as strengthening logistics infrastructure, establishing strategic production capacity, and ensuring market diversification are key for Türkiye's economic security, a situation that renders trade policy increasingly more directly intertwined with foreign policy and security strategy," she said, adding that the 6.7% rise in G20 imports partly reflected front-loaded purchases driven by expectations of new tariffs.