Turkey: Exports hit record high of $23.5 billion in August
Istanbul, Sept 3 (KUNA) -- Turkish Commerce Minister Ömer Bolat announced on Thursday that the country’s exports rose by 8.1 percent in August compared to the same month last year, reaching $23.5 billion and marking the highest August export value in history.
Speaking at a press conference at the ministry’s headquarters in the capital, Ankara, Bolat said, “Our exports reached a record high during the first eight months of this year, totaling $185 billion, while annual exports through last August amounted to $280.3 billion, the highest level in the history of the Republic.”
Bolat noted that the Turkish economy began to accelerate from the second quarter of the year, a trend reflected in several macroeconomic indicators, foremost among them exports. He pointed out that the Turkish economy grew by 2.3 percent in the second quarter and by 2.5 percent during the first half of the year.
He said Turkey’s gross domestic product (GDP) exceeded $1.706 trillion in the first half of this year, setting an all-time high.
Bolat highlighted that exports of goods and services contributed 0.6 percentage points to the growth recorded in the second quarter of 2026, noting that the upward momentum in exports, which began in April, continues to support economic growth and employment.
On another front, Turkey’s inflation rate fell to 31.51 percent year-on-year in August, while monthly inflation stood at 1.84 percent.
Data published by the Turkish Statistical Institute showed that the consumer price index rose by 1.84 percent month-on-month in August, while the producer price index increased by 2.57 percent.
Economists had expected the consumer price index to rise by 1.86 percent in August 2026, bringing annual inflation to 31.52 percent.
It is worth noting that Turkey’s inflation rate stood at 1.78 percent month-on-year in July, with the annual rate reaching 31.75 percent.
Turkish Minister of Treasury and Finance Mehmet Şimşek commented on the inflation figures announced by the Turkish Statistical Institute on his X (formerly Twitter) account, saying, “Despite seasonal increases in education prices and the impact of the war (Iran war) on fuel prices, inflation continued to decline, with the annual inflation rate reaching 31.5 percent.”
He added that core goods inflation fell to its lowest level since November 2020, recording an annual rate of 15.9 percent, while annual rent inflation dropped to its lowest level in 46 months.
Şimşek said, “While we are taking steps to mitigate the impact of global price shocks on inflation, we are also continuing our structural policies in line with our goal of achieving lasting price stability.” (End)
