Ankara: Turkish President Recep Tayyip Erdogan announced on Monday that Trkiye anticipates year-end inflation to be around 20%, while emphasizing the country's significant achievements in 2024. Speaking at an event organized by the Turkish Exporters Association (TIM), Erdogan highlighted the impressive export volumes from the previous year.
According to Anadolu Agency, TIM's statement revealed the top 10 exporters in 2024, which included major automotive and industrial firms such as Ford, Toyota, Trkiye Petrol Rafinerileri, Kibar Dis Ticaret, Star Rafineri, TGS Dis Ticaret, Oyak-Renault, Vestel, Arcelik, and Baykar. The Turkish economy experienced a 3.2% growth in 2024, driven by a strategy focused on investment, employment, production, and exports. Erdogan stated that this momentum is expected to continue into 2025.
Erdogan recalled that the Turkish economy grew by 2% in the first quarter of 2025 compared to the previous year, marking the 19th consecutive quarter of uninterrupted growth. He attributed this success to the medium-term economic program, which has strengthened the country's structural resilience and reduced its reliance on external sources. Despite various shocks over the past three months, the program has demonstrated resilience and renewed confidence.
The president noted a rise in Trkiye's reserves since May, alongside a decline in the country's risk premium and increased confidence in the Turkish lira. Erdogan highlighted that 2024 was a record year for exports, with Trkiye achieving $262 billion in exports and increasing its global export share to 1.07%. The number of companies with exports over $1 billion rose to 18, while those with exports over $100 million increased to 302.
Erdogan also mentioned that Trkiye's exports reached $24.8 billion in May 2025, a 2.7% increase compared to the same month last year, marking the republic's highest monthly export figure.
In the defense sector, Erdogan stated that Trkiye has become a leading manufacturer in various industries, including defense and aviation, white goods, automotive, and energy. In 2024, turnover in defense products exceeded $15 billion, with $6.7 billion in goods exported to 180 countries and regions. Including NATO and service exports, the total defense exports amounted to $7.1 billion.
Erdogan emphasized Trkiye's success in producing unmanned aerial vehicles (UAVs), noting that Turkish companies manufacture two out of every three UAVs sold worldwide. He also highlighted Trkiye's status as a global leader in armored land vehicles and expressed optimism for similar success with the national fighter jet Kaan.
Addressing global issues, Erdogan mentioned the challenges posed by trade wars and the increasing risks and threats in various areas, from the economy to global politics. He acknowledged the tensions in the region and stressed Trkiye's proactive approach in preparing for potential scenarios to ensure stability and balance.