Turkey’s export performance in November 2024 showed a positive upward trend, with exports rising by 3.
1% year-on-year (YoY). This growth, driven by strong demand for Turkish products across various sectors, signals a stable recovery in the country’s trade balance as it continues to navigate global economic challenges.
The export increase was led by several key sectors, with textiles and machinery playing significant roles in driving the growth. In particular, the Turkish textile industry has seen a boost in demand, benefiting from both established and new trading partnerships across Europe and beyond.
On the import side, Turkey’s imports rose by 2.7% YoY in November 2024. While the increase in imports is seen as a sign of healthy domestic consumption, the rising demand for raw materials and energy-related goods was particularly noteworthy.
Analysts attribute this to a surge in industrial production and a stronger domestic market recovery.
Despite the rise in imports, Turkey’s overall trade deficit has remained manageable, thanks to the strong export growth. The positive export performance highlights the country’s ongoing resilience and adaptability, with sectors like textiles continuing to contribute significantly to Turkey’s economic recovery.
With the Turkish economy showing signs of stabilization, experts predict that the country’s trade performance may continue to improve, positioning Turkey for a solid finish to 2024 and a strong start in 2025.
