President: Türkiye's exports close to record $300 billion

Turkish President Recep Tayyip Erdogan has said that Türkiye's export volume breaks new records every month, approaching to $300 billion.

He made the remarks while addressing the participants of the Turkuaz Group Summit - 2023 via a video message, Anadolu Agency reports.

The issues related to inflation and high living costs in Türkiye are being removed from the public agenda thanks to effective and timely steps taken by the government, the president stressed.

Erdogan drew attention to the challenges that humanity has faced during the past three years.

“We are going through a difficult period when, in parallel with the COVID-19 pandemic, tension intensified in the region, which in some places turned into open armed confrontation. The prices for energy resources, food and raw materials have sharply risen, which has given rise to the problem of inflation. Rising prices today is a problem for all the economies of the world without exception,” President Erdogan said.

The Turkish leader noted that the problem of inflation is no longer solved by using the "classic mechanisms" of raising interest rates.

“The countries trying to apply such methods face not only a general increase in prices, but also the loss of jobs,” the president stated.

He noted that the inflation rate in Türkiye will begin to decline from the beginning of the year thanks to the measures taken by the government.

The president drew attention to the reforms during the past 20 years, which made it possible to form a solid base for the development of the Turkish economy and minimise the impact of external risks.

“Türkiye's export volume sets new records every month and has already approached $300 billion,” the president stated.

Touching upon the situation in the energy sector, the president focused on the development of the Sakarya field in the Turkish sector of the Black Sea.

"The efforts are still made around the clock to supply gas from the field with 540 billion cubic metres," President Erdogan said.

He spoke about the success of the country's defence industry.

“Türkiye exported defence products worth only $248 million in 2022, while last year this figure reached a record level - $3.224 billion. We also forecast that exports will exceed $3 billion this year. The range of products of Turkish defence enterprises is being expanded, turning into a powerful source of income for the country,” he said.

President Erdogan stressed that the Turkish authorities are determined to turn 2023, when the country’s centenary will be celebrated, into a milestone in the country's new development.

Meanwhile, Head of the Turkish Defence Industry Agency Ismail Demir has said that the nation's defence budget has grown to $75 billion taking into account the projects which are being implemented.

Demir made the remarks in Istanbul on December 8, Anadolu Agency reports.

He noted that to understand the budget growth dynamics, it is necessary to consider the processes that began to gradually increase from the beginning of the 2000s and gain momentum in recent years.

“A total of 62 defence projects were implemented in 2002, today this figure has increased to more than 750. If earlier projects were implemented with a budget of $5.5 billion, today this figure has increased by 11 times and reached $60 billion. Taking into account ongoing projects, this figure reached $75 billion. If earlier the number of defence companies was 56, today this figure has increased to 2,000,” Demir said.

He added that Türkiye has achieved great success in the development of the defence industry.

Türkiye, which has greatly relied on foreign products in the defence industry, has become a country having the potential to create its own helicopter, unmanned aerial vehicles, missiles, ships and even aircraft, he noted.

Demir said that Türkiye is approaching its goal of becoming one of 10 most developed countries in the global defence industry field.

 “We have achieved great results compared to the situation which was 20 years ago, but there is still a long process. The export of Türkiye's defence products will exceed $4 billion by the end of the year,” the head of the Defence Industry Agency added.