Turkey economy reaches $1.7 trillion national income as export targets rise

Turkish Trade Minister Ömer Bolat has announced significant economic milestones and targets during recent visits to Kayseri, Nevşehir, and Kırşehir. Bolat reported that Turkey's national income has risen from $238 billion to $1.7 trillion over the last 23 years, with per capita income increasing from $3,600 to $18,000. He noted that the country has climbed from 21st to 16th place in the global economy rankings.

The Minister set an ambitious year-end target for goods and services exports at $410 billion. He emphasized that export growth is a ‘red line’ for the government, citing recent monthly record highs in export figures. To support this, the government has allocated 60% of its budget to export supports, and the daily limit for Central Bank export rediscount credits has been increased from $300 million to $5 billion.

In Kayseri, Bolat announced a 150 million TL resource allocation for local tradesmen through Halkbank, provided with TESKON guarantees at a 20% cost. Additionally, he highlighted that industrial production capacity has grown from 100 units pre-pandemic to 130 units today. Bolat also addressed employment, stating that the number of workers has risen to over 32 million, with the unemployment rate remaining in the single digits at 8.1% as of July.