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Turkish export and service sector development

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2026-09-05 12:49 UTC → 2026-09-08 10:55 UTC · added ~~removed~~

Turkey is focusing on expanding its export capabilities through both financial support and service sector growth. In August 2026, the Turkish Ministry of Trade announced that Türk Eximbank aims to provide $59 billion in credit and insurance support to exporters during 2026. The bank is increasingly targeting high and medium-high technology products, which currently account for 47% of issued export credits. Regarding goods, Minister of Trade Ömer Bolat reported that total goods exports reached a record $280.3 billion on an annualized basis as of August 2026. In the first eight months of 2026, total exports reached $185 billion, a 4% increase compared to the same period last year. Regional performance was significant, as the combined export growth of Ankara, Kocaeli, and Bursa accounted for 45% of Turkey's total export increase during this eight-month period. Istanbul led provincial exports with $5.503 billion, followed by Kocaeli and Izmir. Service exports reached a record $124.9 billion in 2025, a 6.5 percent increase from 2024, exceeding the initial target of $121 billion and surpassing Central Bank projections. This performance resulted in a service trade surplus of $63 billion, ranking Turkey 6th globally among countries with service trade surpluses and 22nd globally in total services exports. The Ministry of Trade noted that this surplus contributes significantly to financing the current account deficit. Travel services were the primary driver, accounting for 48.1 percent of total service exports, followed by transportation services at 34.1 percent. Telecommunications, computer, and information services experienced significant growth of 25.3 percent, reaching $6.724 billion. While the European Union remains a top market for service exports, the United States has emerged as a leading destination, recording $8.3 billion in service exports. At the Istanbul Global E-Export Summit (IGEXX 2026), Minister Bolat highlighted the country’s digital transformation, noting that e-commerce’s share of total trade rose from 4.5 percent in 2019 to 20 percent. The government has set a target for e-export volume to reach $6 billion by the end of 2026.

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