Erdogan looks at the bright side as trade deficit hits record high

Conveying optimism for the Turkish economy, President Erdogan announced on Monday that "exports hit an all-time high of $254.2 billion" in 2022, with an annual increase of 12.9%.

He added:

"Our goal is to ensure that Turkey takes its place among the top 10 exporting countries in the world."

Erdogan's announcement was reported without any imports data by AA, who provided that data elsewhere, without emphasis.

According to official data, Turkish imports hit a record of $364.3 billion in 2022 with an annual increase of 34.3%.

The annual trade deficit rose to $110 billion at the end of 2022 in Turkey, which is struggling with a currency crisis that has exhausted its foreign currency reserves in recent years.

The trade deficit was $46.2 billion at the end of 2021, $49.8 billion at the end of 2020, $29.5 billion at the end of 2019, $53.9 billion at the end of 2018, and $74.2 billion at the end of 2017.