The Ministry of Commerce announced that $25.8 billion of service exports were realized in the first 4 months, and that they aim to exceed $120 billion in total for the year.
In the statement made by the Ministry of Commerce, it was stated that studies continue to develop and support all items of exports, such as tourism, air, land, sea and rail transport, health tourism, foreign student admission, informatics and software, and TV series export, in order to be the locomotive of Turkiye’s economic development.
Pointing out that Turkiye’s service exports have increased more than 6 times in the last 20 years on this subject, the statement said, “Our service exports, which were $14 billion in 2002, increased by 47% in 2022 compared to the previous year, and broke a record of $90.5 billion. Thus, our services balance of $50 billion has taken an important place in closing the current account deficit.”
In the statement, it was reported that Turkiye’s success in international service exports showed itself and rose to the 23rd rank with a share of 1.3% in the world.
Emphasizing that with the increase in service exports last year, Turkiye has become the country with the highest increase rate among the top 30 exporting countries in the world after Spain. It was reminded that service exports reached $25.8 billion with an increase of 22.6% in the first 4 months of this year.
The statement noted:
“The target is to exceed $120 billion in the 100th year of our Republic. As the Ministry of Trade, the resources transferred to the service sectors as of the beginning of 2023 are ₺774 million 730 thousand 132, and the total budget allocated for 2023 is ₺2.5 billion. As the Ministry of Commerce, we continue our efforts to take firm steps towards our goals by increasing our investments and support for our sub-sectors and items that bring a net surplus to the CBRT’s Balance of Payments in today’s world where intellectual property is intensive, creativity and innovation are the main axis.”
Source: Trthaber / Prepared by Irem Yildiz