While the nation’s imports soared by 41 per cent to $32.6 billion, its exports grew by 13.2 per cent year-on-year to $21.3 billion, according to data from Turkiye’s trade ministry. Turkiye’s growth rate on an annual basis went from 7.5 per cent in the first quarter to 7.6 per cent in the April-June period.

Foreign trade deals using Turkish liras (TRY) have risen to 34.2 billion TRY in August 2022. The volume of both imports and exports combined in Turkiye’s currency showed a jump of 159 per cent compared to what was earned in August 2021. Turkiye’s annual growth rate went from 7.5 per cent in the first quarter to 7.6 per cent in the April-June period.

“Despite the challenges from the global economy, the Turkish economy continued its growth and exports remained one of the main drivers of GDP expansion. Exports of goods and services added 3.9 percentage points to the country’s growth in the second quarter,” Turkiye’s trade minister Mehmet Mus was quoted as saying by Turkish media reports. Mus added that Turkiye’s target to raise export revenues to $250 billion in 2022 could be reached.

Fibre2Fashion News Desk (NB)