Business

Turkey: Service export target is $150 billion

A leap forward in service exports, which includes many sectors from TV series to games, from software to tourism. The service sector, which broke a record with $64.4 billion in 2019 but exported $34.8 billion in 2020 with the effect of the pandemic, raised its target. The new target of the sector, which has a current account surplus of $10 billion, is to reach $150 billion in five years.

Ahmet Akbalik, Head of the Service Exporters Sector of the Turkish Exporters Assembly (TIM), said, “Our union, for which we made great efforts to establish and which we quickly reached over 2,000 members from 10 different sectors, managed to take its rightful place among the locomotive unions of our country’s exports in a short time. By taking the right steps, we will solve the country’s current account deficit problem while reaching the export target of $150 billion in the medium term.” Akbalik underlined that Turkey has grown by 61% and the world has grown by 25% since 2010, adding, “The services sector provided 55% of this growth.”

GLOBAL RESEARCH

Stating that they have made a global and detailed analysis for 10 different sectors, Ahmet Akbalik said, “We have been working on a very detailed research for about a year. Thanks to this research, we will reach results such as the current positions of our sectors, the strategies of our competitors, our target markets and how we should position ourselves. In this way, we will determine the needs of our sectors better and draw a road map in line with a common goal.”

700 MILLION WATCHES TURKISH TV SERIES

Akbalik also said that the indirect contribution of some export products, such as TV series, to total exports may be very high, “For example, Turkish TV series have reached 700 million viewers per day in more than 150 countries. Our Entertainment and Cultural Services sector ranks in the top 10 in the world with an export of $296 million, and ranks second in the world after the USA in TV series exports. The TV series industry contributes to the export of both goods and services with the right scenario.”

Source: Sabah / Translated by Irem Yildiz

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