Treasury and Finance Minister Şimşek evaluated foreign trade data

Treasury and Finance Minister Mehmet Şimşek stated that they expect the foreign trade deficit to be better than the Medium Term Program (MTP) forecasts this year and said, "We will increase our share in world trade by providing twin transformation with our program steps, increasing value-added production and reaching higher places in supply chains."

In his post on his social media account, Şimşek evaluated the foreign trade data for October.

Emphasizing that exports increased by 3.6% annually in October and the contraction in imports has continued for 6 months, Şimşek noted the following:

“The annual foreign trade deficit improved by USD 35.1 billion compared to the same period of the previous year and realized as USD 77.7 billion. In 2024, we expect the foreign trade deficit to be better than our MTP forecast. With our program steps, we will increase our share of world trade by achieving twin transformation, increasing value-added production and reaching higher positions in supply chains.”