Minister Bolat: Turkiye Becomes the EU’s 4th Largest Textile Supplier
Minister of Trade Ömer Bolat drew attention to Turkiye’s export success, saying: “In 2002, Turkiye’s exports were 50 billion dollars; today they have reached 375 billion dollars. By the end of the year, we will exceed 390 billion dollars.”
The 11th Laleli Fashion Shopping Festival began with the participation of Minister of Trade Ömer Bolat, Mayor of Fatih Mehmet Ergün Turan, Istanbul Chamber of Commerce (ITO) President Şekib Avdagiç, LASIAD President Gıyasettin Eyyüpkoca, former EU Minister Egemen Bağış, and many guests. The festival, held on Laleli Street, also attracted great interest from foreign visitors from Russia, Ukraine, Kazakhstan, Uzbekistan, Romania, Poland, Algeria, Saudi Arabia, and several African countries.
In his opening speech, Minister Bolat emphasized that Turkish goods have now become synonymous with quality worldwide and also shared the strong performance in textile and apparel exports. Bolat said: “In 2024, our textile and apparel sector realized exports worth 32.1 billion dollars. Of this, 19.7 billion dollars came from ready-to-wear and garment, 9.4 billion dollars from textiles and raw materials, and 2.9 billion dollars from the carpet sector. With this success, our industries achieved a 3.5% share of global exports, ranking 7th in the world and becoming the EU’s 4th largest supplier.”
Touching on the impact of global developments on Turkiye’s economy, Bolat stated that despite the negative reflections of wars and crises, stable growth continues. Sharing his positive projections for 2026, the Minister said: “With inflation falling to the 20s, access to financing will become easier, and confidence and stability will settle in the markets. If global demand conditions improve and the Russia-Ukraine war ends with a peace agreement, much brighter days await our economy.”
Reminding that Turkiye’s national income reached 1 trillion 330 billion dollars last year, Bolat also pointed out the strong momentum in exports: “Since the beginning of the year, we have added 1 billion dollars to exports every month. We will further strengthen the image of Turkish goods in global markets.”
Bolat also recalled the supports provided to exporters by the Ministry, noting that 60% of the ministry’s budget is allocated to incentives, and added: “We provide exporters with supports such as market entry, participation in fairs, trade delegations, and bringing sectoral procurement delegations.”
Addressing targets for national income and per capita income, Minister Bolat said: “With a national income of 1.4 trillion dollars, we are 17th in the world. We will raise our per capita income to the level of 16,500 – 17,000 dollars. As we overcome inflation, growth will accelerate within stability.”
Stating that inflation has been decreasing for the last 14 months, Bolat also emphasized that the decline in interest rates will facilitate access to financing: “By the end of the year, inflation will fall below 30. The cost of Eximbank export rediscount loans will also drop below 20. These developments will bring along a much stronger economic outlook.”
