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Türkiye’s exports rose to $22.7 billion in November, up 2.2% year-over-year despite a negative calendar effect, Trade Minister Omer Bolat announced Thursday.
Speaking at a news conference in Ankara, Bolat said the country also reached a new milestone with exports totaling $270.6 billion over the last 12 months.
In the first 11 months of the year, exports amounted to $247.2 billion, marking a 3.7% increase from the same period in 2022. Bolat noted that nine of the 11 months posted year-over-year gains in exports.
Imports in November also climbed 2.6% to $30.5 billion, resulting in a monthly foreign trade deficit of $7.8 billion. For the January–November period, the foreign trade gap reached $82.5 billion.
Meanwhile, Türkiye’s inflation data for November came in lower than market forecasts, signaling relief for policymakers as they weigh the pace of monetary easing.
The Turkish Statistical Institute (TurkStat) reported that monthly consumer price inflation slowed to 0.87%, the lowest reading since May 2023. Annual inflation fell to 31.07%, its lowest level since November 2021.
This slowdown outpaced expectations from the Central Bank of the Republic of Türkiye’s latest market survey, which projected a 1.59% monthly increase and a 32.02% annual rate.
The stronger-than-expected disinflation could strengthen the case for interest rate cuts, with analysts previously expecting a 100-basis-point reduction.
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