Türkiye’s exports rise 2.2% to $22.7 billion in November
Türkiye’s exports reached $22.7 billion (TL 963.60 billion) in November, up 2.2% year-on-year despite a negative calendar effect, according to Trade Minister Ömer Bolat. He also announced a new record for annualized goods exports at $270.6 billion as of November.
Sustained economic momentum
Bolat highlighted that the Turkish economy grew 3.7% in the third quarter, extending its expansion to 21 consecutive quarters. Compared with the previous quarter, exports grew by 2.9% and imports fell by 4.4% in Q3, trends he described as encouraging for the fourth quarter.
Record annualized exports despite calendar effects
Despite fewer working days in November, exports rose by 2.2%, reflecting a net monthly increase of roughly $483 million. Annualized goods exports climbed to $270.6 billion, with net monthly gains recorded in nine of the first 11 months of the year. Bolat added that monthly export records were broken in four of those months, contributing to a cumulative net increase of $8.8 billion in goods exports.
Trade balance and 11-month performance
From January to November, exports totaled $247.2 billion, a 3.7% rise from a year earlier. November imports stood at $30.5 billion, leaving a foreign trade deficit of $7.8 billion for the month.
Services exports and combined total
Annualized services exports reached $122.5 billion as of November. Combined goods and services exports rose to $393.1 billion on an annualized basis, exceeding last year’s $379 billion by $14 billion. Officials emphasized that while tackling inflation remains a priority, policies continue to support export growth and employment.
Shift toward higher-tech exports
Treasury and Finance Minister Mehmet Şimşek noted improvements in the technology composition of exports. He said imports, influenced in part by higher global gold prices, were at an annualized $361.9 billion. In the January–November period, exports of high- and medium-high-technology products rose 9.6% year-on-year, lifting these categories’ share of manufacturing exports to 43%. He added that Türkiye is pressing ahead with active industrial policies to expand high-tech production and bolster competitiveness, with support increasingly targeted at productive sectors.
Top exporting sectors in November
- Automotive: $3.75 billion
- Chemicals and products: $2.36 billion
- Electrical and electronics: $1.48 billion
