Istanbul: Trkiye's national income witnessed significant growth, rising from $238 billion in 2002 to $1.32 trillion last year, according to the Turkish trade minister. Omer Bolat expressed optimism, stating, "We will hopefully exceed $1.4 trillion by the end of this year."

According to Anadolu Agency, Bolat shared these insights during an event in Istanbul organized by the Foreign Economic Relations Board of Trkiye (DEIK). He highlighted that the Turkish economy has expanded at an average annual rate of 5.3% over the past 22 years since the ruling Justice and Development (AK) Party came into power. Bolat emphasized Trkiye's position among the fastest-growing global economies over the past decade.

Bolat detailed the growth in merchandise exports, which soared from $36 billion in 2002 to $262 billion last year. He noted, "Our growth rate continued in the first seven months of this year, closing at $156.4 billion with a 5.2% increase." This growth added $7.6 billion in value to the Turkish economy within just seven months.

He further highlighted the increase in Trkiye's global export share to 1.07%, with significant contributions from sectors such as automotive ($37.5 billion), textiles and clothing ($32 billion), chemicals and energy ($35 billion), and agricultural products ($32.5 billion). Bolat remarked, "In July, we surpassed the $25 billion mark for the first time. On March 28, we achieved a record export figure exceeding $2 billion per day." As of July, the country's goods exports over the past 12 months reached $269.4 billion, marking the highest level in the republic's history.

This impressive export performance underscores Trkiye's upward trajectory in industry, agriculture, and services, driven by quality, competitiveness, and advancing technology, Bolat concluded.