Positive Developments in Turkey’s Foreign Trade and Tourism Performance
Finance Minister Mehmet Şimşek has reported continued positive developments in Turkey’s foreign trade and tourism performance.
In a statement, Şimşek noted that the annual foreign trade deficit showed a limited increase in June due to the holiday effect. He pointed out that the deficit improved by 32 billion dollars compared to the previous year.
Furthermore, Şimşek highlighted that the number of annual visitors reached 60 million in the second quarter of the year, and tourism revenue amounted to 58 billion dollars.
Addressing the current account deficit, Minister Şimşek stated that the decline continues and expects this trend to persist for the remainder of the year. He projects that the ratio of the current account deficit to national income will decrease to approximately 2% in 2024.
Şimşek emphasized the importance of a sustainable current account deficit for program targets.
Source: Ministry of Finance statements.