Minister Şimşek: Our exports declined by 6.4 percent annually

Minister of Treasury and Finance Mehmet Şimşek made a statement regarding the export data for March.

In a post on his social media account, Şimşek stated, "In March, our exports declined by 6.4 percent annually due to geopolitical developments and negative calendar effects. Imports, on the other hand, remained strong, partly due to front-loaded demand."

Noting that rising energy costs and the weakening of goods and services exports to Gulf countries have negatively affected the foreign trade balance, Şimşek said, "However, thanks to the significant improvement we have achieved in many areas, especially in the current account balance during the program period, our country's resilience to shocks has increased significantly.

This process has once again demonstrated the importance of the structural steps we have taken toward green transformation, the use of domestic and renewable energy sources, and the reduction of import dependency."

News Source: 12punto