Turkiye’s share in global goods exports increased to 1.08% by the end of 2023, and its share in service exports increased to 1.3%.
The Ministry of Commerce reported that a double record was broken in the share of global goods and services exports in 2023.
Accordingly, while Turkiye’s share in global goods exports was 1.02% in 2022, it increased by 0.06 points to 1.08% in 2023, reaching the highest level in history. Service exports amounted to $100.8 billion, and the share of global exports rose to a record level of 1.3%.
The following was noted in the ministry’s statement:
As a result of our work as the Ministry of Commerce, we see that our country’s exports are positively differentiated according to the statement of the World Trade Organization (WTO). In this context, based on the data announced by the WTO, global goods exports decreased by 5% in 2023, reaching $23.8 trillion, while Turkiye’s goods exports increased by 1%, reaching $256 billion, despite weak global demand and earthquake disasters. Thus, while Turkiye’s share in global exports was 1.02% in 2022, it increased by 0.06 points to 1.08% in 2023 and reached the highest level in history.
Regional differentiation in global goods exports attracts attention. While import demand fell sharply in Europe, it decreased in North America and remained flat in Asia. It has been observed that goods exports have increased in energy exporting economies. Thus, the trade volume of goods, which increased by 3% in 2022, decreased by 1.2% in 2023. Global trade volume is expected to increase by 2.6% in 2024 and 3.3% in 2025 by the WTO. However, the WTO stated that regional conflicts, geopolitical tensions and political uncertainties pose significant downside risks to the forecasts.
Global service exports increased by 9% to $7.8 trillion. Turkiye’s service exports amounted to $100.8 billion, and its share in global exports reached a record level of 1.3%.
Source: Trthaber / Prepared by Irem Yildiz