President Recep Tayyip Erdoğan announced a historic milestone for Türkiye during the 2024 Export Figures Announcement event in Istanbul. In 2024, goods exports grew 2.5 percent year-on-year, reaching USD 262 billion—the highest figure in the Republic's history. In December alone, exports rose 2.2 percent, totaling USD 23.5 billion, further solidifying this record-breaking achievement.
Despite ongoing challenges such as the Russia-Ukraine conflict, pandemic-induced economic disruptions, and global inflation, Türkiye has shown remarkable economic resilience. President Erdoğan highlighted that the economy has grown uninterrupted for 17 consecutive quarters, with GDP increasing from USD 1.13 trillion in 2023 to USD 1.26 trillion by the third quarter of 2024. The per capita income, which was USD 13,243 in 2023, is projected to exceed USD 15,000 in 2024.
Türkiye also made significant strides in reducing its foreign trade deficit. In 2024, the deficit decreased by USD 24 billion, falling to USD 82.2 billion, while the export-to-import ratio improved to 76.1 percent. President Erdoğan pointed out that this ratio stood at just 50 percent in 2002, underlining the progress made in Türkiye's trade policies.
Additionally, 31 provinces surpassed USD 1 billion in exports in 2024, with 54 provinces reporting increased export volumes. President Erdoğan expressed confidence that Türkiye could sustain this momentum and achieve a 4 percent growth rate in 2025, driven by net exports and fixed capital investments. Türkiye also plans to increase export incentives to TRY 33 billion in 2025, ensuring continued support for exporters.
President Erdoğan further noted that the transition period that began in June 2023 for establishing a strong foundation in the fight against inflation concluded in June 2024, marking the start of the second stage with the disinflation process.
Referring to the inflation data for 2024, the President stated, "Inflation was 1.03 percent on a monthly basis in December, and it decreased to 44.38 percent on an annual basis."
President Erdoğan concluded his speech by commending the dedication of Türkiye's business community and reaffirming the government's commitment to fostering economic growth, innovation, and global trade leadership.